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QUESTION
23. XYZ Company's credit terms are 1/5 net 27. The company estimates that 32% of the customers will take the cash discount. What is the average
- 23. XYZ Company's credit terms are 1/5 net 27. The company estimates that 32% of the customers will take the cash discount. What is the average collection period?
- 24. At the start of the day, the ledger balance and the available balance for ABC Company was $5,508. During the day, the firm wrote two checks in the amounts of $1,256 and $1,687. The firm deposited two checks: one check for $283 and another check for $1,357. What is the amount of the collection float as of the end of the day?
