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Essence of Skunk Fragrances, Ltd., sells 6,700 units of its perfume collection each year at a price per unit of $830. All sales are on credit with terms of 2/15, net 90. The discount is taken by 45 percent of the customers.

Calculate the average collection period. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

 Average collection period   days

What is the receivables turnover? (Use 365 days a year. Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.)

 Receivables turnover   times

What is the amount of the company’s average receivables? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

  Average receivables $

Financial Management, Finance

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