Question: Problem 7-23 (Algo) Credit policy decision with changing variables [LO7-4] Dome Metals has credit sales of $108,000 yearly. If Dome offers a 3 percent discount

Problem 7-23 (Algo) Credit policy decision with changing variables [LO7-4] Dome

Problem 7-23 (Algo) Credit policy decision with changing variables [LO7-4] Dome Metals has credit sales of $108,000 yearly. If Dome offers a 3 percent discount for payment in 15 days, what will the average accounts receivable balance be? Assume all customers would pay on the last day of the discount period. Note: Use a 360-day year

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