Problemessence of skunk fragrances ltd sells 6500 units of, Ask an Expert

Accounting

Problem:

Essence of Skunk Fragrances, Ltd., sells 6,500 units of its perfume collection each year at a price per unit of $395. All sales are on credit with terms of 1/30, net 30. The discount is taken by 50 percent of the customers.

Required:

Question: What is the amount of the company's Average receivables?

Note: Please provide reasons to support your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91167506

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