Modern Media Sign Company sells on account. Recently, Modern reported the following figures: Requirements 1. Compute Moderns
Question:
Modern Media Sign Company sells on account. Recently, Modern reported the following figures:
Requirements
1. Compute Modern’s average collection period on receivables during 2012.
2. Suppose Modern’s normal credit terms for a sale on account are “2/10 net 30. How well does Modern’s collection period compare to the company’s credit terms? Is this good or bad for Modern?
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Related Book For 
Financial And Managerial Accounting
ISBN: 9780135080191
2nd Edition
Authors: Charles T Horngren, Jr Walter T Harrison
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