Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 3/10, net 50. Based on experience, 75 percent of all customers will take the discount.
a. What is the average collection period 20 days (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Average collection period days
b. If the company sells 1,280 forecasts every month at a price of $2,380 each, what is its average balance sheet amount in accounts receivable?