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Ice has an inventory conversion period of 60 days, a receivable conversion period of 35...

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Accounting

  1. Ice has an inventory conversion period of 60 days, a receivable conversion period of 35 days and a permanent cycle of 26 days. If its sales for the period just ended amount to P972,000, how much is its investment in receivable? Assume a 360-day year.

2. Panda sells to retail stores on credit terms of 2/10, n/30. Daily sales average 150 units at a price of P300 each. Assuming that all sales are on credit and 60% of its customers take the discount and pay on day 10 while the rest of the customers pay on day 30, what is the amount of the accounts receivables?

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