Question: Contemporary Media Sign Incorporated sells on account Recently Contemporary reported

Contemporary Media Sign Incorporated sells on account. Recently, Contemporary reported the following figures:


Requirements
1. Compute Contemporary’s days’ sales in receivables for 2013. (Round to the nearest day.)
2. Suppose Contemporary’s normal credit terms for a sale on account are “2/10, net 30.” How well does Contemporary’s collection period compare to the company’s credit terms? Is this good or bad forContemporary?
View Solution:


Sale on SolutionInn
Sales0
Views57
Comments
  • CreatedJanuary 16, 2015
  • Files Included
Post your question
5000