• Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 1/30, net 50. Based on experience, 75 percent of all customers will take the discount.

a. What is the average collection period?(Do not round intermediate calculations and round your answer to 2 decimal places, 32.16.)

b. If the company sells 1,230 forecasts every month at a price of $2,330 each, what is its average daily balance sheet amount in accounts receivable?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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