Miyagi data inc sells earnings forecasts for japanese, Ask an Expert

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Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 1/20, net 20. Based on experience, 80 percent of all customers will take the discount. (Enter your answer as directed, but do not round intermediate calculations.)

If the company sells 1,290 forecasts every month at a price of $2,390 each, what is its average balance sheet amount in accounts receivable? (Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Round your answer to 2 decimal places (e.g., 32.16).)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91796476

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