Cosplay Unlimited sells 1,140 outfits per year at an average price of $143. The terms of the sale are 1/15, net 40. The discount is taken by 71 percent of customers. What is the company's accounts receivable balance? a. $19,651.73
b. $17,865.21
c. $9,937.52
d. $8,632.13
e. $7,326.74

c. $9,937.52

Explanation:

The Accounts receivable balance can be calculated by;

= Outfits per years * Average Price * (Collection period/365)

Collection period;

71% take the discount which means that they pay in 15 days while the rest pay in 40.

= (71% * 15) + (29% * 40)

= 22.25 days

Accounts Receivable balance = 1,140 * 143 * (22.25/365)

= $9,937.52

answer; test-retest;

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.