Question: Please explain the correct approach for solving this general accounting question. Samurai Supplies, Inc., sells office supplies and offers credit terms of 2/10, net 30.

Please explain the correct approach for solving this general accounting question.

Samurai Supplies, Inc., sells office supplies and offers credit terms of 2/10, net 30. Based on past experience, 60% of customers take the discount. What is the average collection period for Samurai Supplies, Inc.? a. 19 days b. 18 days c. 24 days d. 26 days

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