Problem:
Essence of Skunk Fragrances, Ltd., sells 4,000 units of its perfume collection each year at a price per unit of $400. All sales are on credit with terms of 1/10, net 30. The discount is taken by 40 percent of the customers. What is the amount of the company's accounts recievable?
This question comes out of the "Essentials of Corporate Finance" edition 6, published by McGraw, Hill, Irwin. Authored by Ross, Westerfield, and Jordan.