Essence of Skunk Fragrances, Ltd., sells 6,600 units of its perfume collection each year at a price per unit of $770. All sales are on credit with terms of 3/15, net 60. The discount is taken by 50 percent of the customers.
Calculate the average collection period. (Round your answer to 2 decimal places (e.g., 32.16).)
Average collection period days
What is the receivables turnover? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 3 decimal places (e.g., 32.161).)
Receivables turnover times
What is the amount of the company’s average accounts receivable? (Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)
Average accounts receivable $