Healthcare finance

posted by .

Lansing Surgical Supplies Inc, sells on terms of 2/10, net 30. Gross sales for the year are 1.3 million and the collections department estimates that 30 percent of the customers pay on the tenth day and take discounts, 40 percent pay on the thirtieth day, and the remaining 30 percent pay, on average, 40 days after the purchase. (assume 360 days per year)

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Finance

    Until recently, Augean Cleaning Products sold its products on terms of net 60, with an average collection period of 75 days. In an attempt to induce customers to pay more promptly, it has changed its terms to 2/10, EOM, net 60. The …
  2. business

    Until recently, Augean Cleaning Products sold its products on terms of net 60, with an average collection period of 75 days. In an attempt to induce customers to pay more promptly, it has changed its terms to 2/10, EOM, net 60. The …
  3. Accounting

    Appalachian Register, Inc. (ARI) has current sales of $50 million. Sales are expected to grow to $75 Million next year. ARI currently has accounts receivable of $10 million, inventories of $15 million and net fixed assets of $20 million. …
  4. Finance/Accounting

    Milwaukee Surgical Supplies, Inc, sells on terms of 3/10, net 30. Gross sales for the year are $1,200,000 and the collections department estimates that 30 percent of the customers pay on the tenth day and take discounts, 40 percent …
  5. Finance

    Milwaukee Surgical Supplies, Inc., sells on terms of 3/10, net 30. Gross sales for the year are $1,200,000 and the collections department estimates that 30% of the customers pay on the tenth day and take discounts, 40% pay on the thirtieth …
  6. Finance

    ER Medical Supplies had sales of 2,000 units at $160 per unit last year. The marketing manager projects a 25 percent increase in unit volume this year with a 10 percent price increase. Returned merchandise will represent 5 percent …
  7. adult education

    Given Data: Total Sales: $912,500 % of customers that take discounts: 40% % of customers that do not take discounts: 60% # of days that cusomers who take discounts pay by: 10 Days # of days that customers who do not take discounts …
  8. Healthcare finance

    Milwaukee Surgical Supplies, Inc., sells on terms of 3/10, net 30. Grosee sales for the year are $1,2000,000 and the collections department estimates that 30% of the customers pay on the tenth day and take discounts, 40% pay on the …
  9. business and finance

    Use this information to calculate the following: Sales returns $ 700 Rent expense 1,288 Sales discounts 950 Depreciation expense 600 Cost of merchandise sold 7,600 Gross sales 20,900 Advertising expense 1,650 Salary expense 2,900 Heat …
  10. finance

    Fashion Distributors Incorporated currently sells on terms of 2/10, net 30, with bad debt losses at 1% of gross sales. Of the 99% of the customers that pay, 50% take the discount and pay on Day l0; the remaining 50% pay on Day 30 (average …

More Similar Questions