Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 1/10, net 30. Based on experience, 65 percent of all customers will take the discount. (Enter your answer as directed, but do not round intermediate calculations.)
Required:
(a) What is the average collection period?
Average collection period days
(b) If the company sells 1,400 forecasts every month at a price of $2,600 each, what is its average balance sheet amount in accounts receivable? (Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Round your answer to 2 decimal places (e.g., 32.16).)
Average accounts receivable $