A company offers credit terms of 1/10, net 30 to its customers. Historically, 80% of...
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A company offers credit terms of 1/10, net 30 to its customers. Historically, 80% of all customers take the discount. What is the company's average collection period? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas in your response. For example, an answer of 1,000.50 should be entered as 1000.50. Numeric Response A company just placed an order for 600 units of inventory at a price per unit of $120. The supplier offers terms of 1/10, net 30. If the company pays the supplier for this order 8 days from today, what amount should the company remit? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50. Numeric Response
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