Larrys lawn equipment company gives terms of 210 n30 larry, Finance Basics

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Larrys lawn equipment company gives terms of 210 n30 larry

Question: Larry's lawn equipment company gives terms of 2/10, n/30. Larry has annual credit sales of $500,000 and average accounts receivable of $60,000.

A. What is Larry's accounts receivable turnover?

B. What is Larry's average daily collection?

C. What is the relationship between the terms that Larry is giving and his average daily collection?

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Finance Basics: Larrys lawn equipment company gives terms of 210 n30 larry

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Finance Basics: Larrys lawn equipment company gives terms of 210 n30 larry

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