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Yessi15 Yessi15
wrote...
Posts: 342
3 months ago
A firm's credit terms specify “1/10 net 30” and the accounts receivable days outstanding is 32 days. Which of the following can be concluded on the basis of this information?

▸ Most customers pay on time.

▸ All customers have paid within 32 days of purchase.

▸ The average customer pays two days late.

▸ All customers pay late.
Textbook 

Fundamentals of Corporate Finance


Edition: 2nd
Authors:
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Kutthroat KaneKutthroat Kane
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Posts: 322
3 months ago
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The average customer pays two days late.
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