Kays house of sound sells 520 musical instruments a year at, Ask an Expert

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Kay's House of Sound sells 520 musical instruments a year at an average price per instrument of $580. All sales are credit sales with terms of 2/10, net 25. Hogan's has found that 78 percent of its customers take advantage of the discounted price. What is the amount of the firm's average accounts receivable?

A. $9,560 B. $10,990 C. $11,280 D. $12,440 E. $12,620

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Financial Management, Finance

Category:- Financial Management
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