Brett's, Inc expects to have $35 million in credit sales during the coming year. In spite of a national distributing
system, all remittances are sent to the home office.
A proposed system can eliminate 3 days of float, releasing
funds which, when invested, will earn 6.5 percent. What annual savings can Brett's, Inc expect if the system is
implemented? Use a 365-day year.
[ $35,000,000 ]
365 3 . (0.
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Usually specific authorization is required for all of the following except
a. sales on account which exceed the credit limit b. sales of goods at the list price c. a cash refund for goods returned without a receipt d. write off of an uncollectible account receivable
All of the following words describe benchmarking except:
A. one-time event. B. ongoing. C. continuous. D. measuring process.
Adding together the ending merchandise inventory and cost of goods sold gives the amount of goods available for sale
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
The expense recognition model based on historical cost, as well as the model based on current value, must allocate the costs incurred.