Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2.0/15, net 30. Based on experience, 60 percent of all customers will take the discount.
a. what is the average collection period (days)? use 365 days a year
b. If Kyoto Joe sells 1,040 forecasts every month at a price of $1,800 each, what is its average balance sheet amount in accounts receivable? Average balance($)? use 365 days a year. do not round intermediate calculations and round your final answer 2 decimal places.