Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. question 1. pitt cola has revenues of $125,000 and

Question 1. Pitt Cola has revenues of $125,000 and COGS of $90,000. All sales are...

90.2K

Verified Solution

Question

Finance

Question 1.

Pitt Cola has revenues of $125,000 and COGS of $90,000. All sales are credit sales. Average receivables are $22,000. The company decides to factor these receivables to raise cash. The factor charges 2.5% of receivables. How much can the company borrow and what is the annualized cost (APR & APY)?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The number of faults over a period of time was collected for a sample of 100...

Statistics
Q

Complete the stoichiometry of each reaction, making sure both stoichiometry and charge balance are correct. That...

Chemistry
Q

2. There are two primary methods of building up a solution to an engineering model, 1)...

Civil Engineering
Q

Topic: Ministry of Health take many health issues seriously such as breast cancer .each year MOH...

Medical Sciences
Q

Select one advertisement that you think is morally problematic, explain the advertisement, and tell me why...

Psychology
Q

To stereotype someone is to judge the person not as an individual but as part...

Biology
Q

Equifax Experian TransUnion Which of the following BEST completes the diagram O These agencies report...

Basic Math
Q

A company purchases property insurance and pays $600 in advance for the next 6 months...

Accounting
Q

Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO...

Accounting
Q

El escndalo financiero de Enron en 2002 y la participacin de la firma auditora Arthur...

Accounting
Q

Angel On 30 June 2019, Angel Ple acquired all the equity shares of Mase Ltd...

Accounting
Q

How do you compute a break even point using thevCVP and variable costing

Accounting