If Fitzgerald in problem 19-3 decides to adopt more stringent credit terms of 2/10, n30, sales are expected to drop by 10 percent, but the following improved payment pattern of its customers is expected: • 40 percent of customers will pay in 10 days. • 58 percent of customers will pay in 30 days. • 2 percent of customers will pay in 100 days. Calculate the new average collection period (ACP) and accounts receivable.
This question was answered on: May 23, 2022
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