Alpha Geek

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    Polytechnic State University Sanluis
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Category > Accounting Posted 03 May 2017 My Price 7.00

Size of Accounts Receivable

Problem 17-7 Size of Accounts Receivable [LO 2]

Essence of Skunk Fragrances, Ltd., sells 6,300 units of its perfume collection each year at a price per unit of $393. All sales are on credit with terms of 2/20, net 60. The discount is taken by 45 percent of the customers.

 

Requirement 1:

What is the amount of the company%u2019s accounts receivable? (Do not include the dollar sign ($). Round your answer to 2 decimal places (e.g., 32.16).)

 

Average receivables

$

 

Requirement 2:

In reaction to sales by its main competitor, Sewage Spray, Essence of Skunk is considering a change in its credit policy to terms of 4/20, net 60 to preserve its market share. Will this change in policy increase or decrease accounts receivable?
 

(Click to select) Decrease Increase

 

Jan 17 2014 07:22 PM

Answers

Alpha Geek
(8)
Status NEW Posted 03 May 2017 10:05 AM My Price 7.00

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Attachments

file 1493808228-answer1.docx preview (216 words )
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