Dome Metals has credit sales of $288,000 yearly. If Dome offers a 3 percent discount for payment
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Dome Metals has credit sales of $288,000 yearly. If Dome offers a 3 percent discount for payment in 18 days, what would the average accounts receivable balance be? Assume all customers would pay on the last day of the discount period. (Use a 360-day year.)
Average receivables balance ____________________$
Related Book For
Foundations of Financial Management
ISBN: 978-1259194078
15th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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