Bob's Product Company takes 20 days to convert its raw materials to finished goods, 15 days to sell it, and 25 days to collect its credit sales. What is the company’s days receivable period? Group of answer choices 60 35 25 10 15

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A: Calculation of current interest rate = 6% + 3% = 9%

Q: Nottingham Financial purchases computer parts from its suppliers 2/10, net 60.  However, Nottingham…

A: Effective Cost of not taking Trade Credit = (1 + Discount/(100 -discount)) ^(365/( days of credit…

Q: The credit terms offered to a customer by a business firm were 2/10, n/30, which means the…

A: For promoting earlier payments, sometimes sellers make credit policy like 2/10, n/30.

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Q: Bulldogs Inc. deals with various clients throughout the city and is attempting to collect its…

A: A lockbox is a bank-operated mailing address to which a business directs its clients' payments. The…

Q: Bulldogs Inc. currently fills mail orders from all over the country and receipts were received in…

A: Introduction:- The following basic information as follows under:- Particulars Amount Average…

Q: A company engaged high-end apparel sells for cash only. The marketing manager is contemplating of…

A: Receivable is the amount which a company is going to receive from the debtors. Higher the credit…

Q: Bob's Discount Auto Parts receives a cash discount of 2% from Auto Warehouse if it pays an invoice…

A: Cash discount - It is a discount that a seller offers to the buyer for the timely payment to the…

Q: Bob's Discount Auto Parts receives a cash discount of 2% from Auto Warehouse if it pays an invoice…

A: Accounting is the analysis and interpretation of the records. It includes not only the maintenance…

Q: In January 2021, Summit Department Store sells a gift card for $50 and receives cash. In February,…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: Assume all suppliers to a large retail chain offer credit terms of 2/10, net 30. The retail chain…

A: 2/10 net 30 is term that means buyers are eligible to receive a 2% discount on trade credit if the…

Q: RAF has four possible suppliers, all of which offer different credit terms. Except for the…

A: Expense- An expense is a cost of operations that a business incurs to generate revenue. The term…

Q: If vests costing $00 with terms 2/20, n/60 ROG were received by the company on April 12 with an…

A: The invoice with term ROG states that due date for invoice would be counted from the date of receipt…

Q: A small bank is trying to determine the number of tellersto employ. The total cost of employing a…

A: Total Cost of employing a teller = $100 per day Service Rate per teller = 160 customers per day…

Q: In order to expand its sales and keep up with the competition, ABC has decided to extend the terms…

A: Introduction: Credit terms: The terms for all credit buyers are "net 10" which means that customers…

Q: A chain of appliance stores, APP Corporation, purchases inventory with a net price of $700,000 each…

A: Accounts payable are those supplier accounts from whom business has made credit purchases but amount…

Q: Bulldogs Inc. currently fills mail orders from all over the country and receipts were received in…

A: Net Annual Savings = Incremental Annual Savings - Incremental Annual Cost

Q: An animal shelter plans to sell T-shirts bearing their logo at an upcoming crafts fair. They find a…

A: Cost of inventory = Cost of purchase + Cost of logo printing + Cost of freight in

Q: Inc. currently fills mail orders from all over the country and receipts were received in its head…

A: Answer -  Calculate the net reduction in A/R:Current A/R = $2,500,000. New A/R with 20%…

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A: Short term financing need can be calculated by using this equation Financing need =Inventory…

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A: Answer -  The perpetual inventory method is a method of accounting for inventory that records the…

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A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Firms usually offer their customers some form of trade credit. This allowance comes with certain…

A: Workings:

Q: 10. Purcell Export received an invoice dated August 21 from Dutch Specialties of Amsterdam with…

A: Hi student Since there are multiple questions, we will answer only first question.  There are two…

Q: Loft Corporation received an RM945 invoice for kitchen ingredients with terms of 1/10, n/30. The…

A: Note: 1/10, n/30: Here, 1 represent the discount rate if payment is made within ten days. And if…

Q: Bob's Discount Auto Parts receives a cash discount of 2% from Auto Warehouse t it pays an invoice…

A: Cash Discount - It is a type of discount that is provided by the seller to the purchaser if the…

Q: Dog Food Corp. normally take 5 days to pay for average daily credit purchases of P10,000. Its…

A: Net Credit Position = Accounts Receivable - Accounts Payable   Accounts Receivable = Average daily…

Q: 24 Paid the shop assistant for the one week salary, P3,600. 25 Cash service income for the week,…

A: Statement of Owner's Equity - Statement of owner's equity includes amount contributed by the owner…

Q: Murkywater Company is considering a lockbox system. Its collection delay is currently 12 days.…

A: Cost of the proposal by multiplying the daily payment by the average size and days.

Q: Ascenda Corp distributes the "Smart" brand of electronic controller systems. The company currently…

A: Cost Benefit Analysis: It is the method where rewards expected from situation and  total costs…

Q: Bob's Discount Auto Parts receives a cash discount of 2% from Auto Warehouse if it pays an invoice…

A: Discount period is the time period when cash discount which is available for the customer to…

Q: Bulldogs Inc. currently fills mail orders from all over the country and receipts were received in…

A: Estimated net annual savings in implementing the lockbox system = Savings in interest - Annual cost…

Q: The credit terms offered to a customer by a business firm are 2/10, n/30, which means that the…

A: Credit term refers to a payment term mentioned in the invoice which stated the timing and payment of…

Q: Lolymino's customers are required to pay on 30 days, but on average pay on 45 days. Total sales…

A: Average Payment received from customers = 45 days Total Sales Revenue = £4,500,000 Bad Debts =£…

Q: Supply Club, Inc., sells a variety of paper products, office supplies, and other products used by…

A: The question is based on the concept of Financial Accounting.

Q: Rangling Company, buys goods from A.J. Stop Company that gives sales terms of 2.5/10, net 30 days.…

A: Please see the next step for the solution

Q: When is the last day the buyer can get the cash discount?    If the buyer decides to pay for the…

A: 1. The Buyer can discount till 10 days from billing date. Billing Date = June 4 Last day the buyer…

Q: 24 Paid the shop assistant for the one week salary, P3,600. 25 Cash service income for the week,…

A: Income Statement - This statement shows the income earned and loss incurred by the organization in…

Q: No More Books Corporation has an agreement with Floyd Bank whereby the bank handles $3.4 million in…

A: No.of collections per day = $3.4 million  Compensating balance = $320,000 Capital balance required…

Q: LYD Corp. receives an order from a new customer, amounting $55,000. LYD Corp. uses 45-day credit…

A: In order to make decision on feasibility of a customer order, we are required to calculate the net…