Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 3.0/10, net 90. Based on experience, 35 percent of all customers will take the discount.
A. What is the average collection period for Kyoto Joe? (Use 365 days a year.)
B. If Kyoto Joe sells 1,020 forecasts every month at a price of $1,700 each, what is its average balance sheet amount in accounts receivable? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))