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Assignment ID: FG133136902
Question 1 – The Red Zeppelin Corporation has annual sales of $55 million. The average collection period is 53 days. What is the average investment in accounts receivable as shown on the balance sheet?
Question 2 – Essence of Skunk Fragrances, Limited, sells 3,500 units of its perfume collection each year at a price per unit of $3DD. All sales are cm credit with terms of 2ND, net 30. The discount is taken by 55 percent of the customers. What is the amount of the company’s accounts receivable?