Amicable Wireless Co offers customers credit terms of 2% discount for payment within 10 days or full payment within 25 days. 60% of Amicable’s customers take the 2% discount and pay on day 10. The remainder of Amicable’s customers pay on day 30.What is Amicable’s receivables days?
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1 .Which of the following statements about the Miller-Orr cash management model is/are true?(1) The greater the variability in cash flows, the greater is the spread between the upper and lower cash balance limits.(2) When short-term investments are liquidated the firm’s cash balance should return to the lower limit.
A 1 only B 2 only C Both 1 and 2 D Neither 1 nor 2
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5 .A company has daily sales of $150,000. A debt factor has guaranteed to reduce the company’s receivables collection time by four days for a monthly fee of $2,500. Cash surpluses can be invested in money market deposits yielding 4% per annum.What is the additional annual income/(loss) from using the cash management service?
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7 .The CFO of a company is concerned about the company’s accounts receivable turnover ratio.The company currently offers customers terms of 3% discount for settlement within 10 days or full payment within 30 days.Which of the following strategies would most likely improve the company’s accounts receivable turnover ratio?
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8 .Scrimpy Co buys materials from Frugal Enterprises. Frugal offers discount terms of 2% discount for payment within 10 days or full payment within 30 days. Assuming a 360-day year, what is the annual percentage cost associated with Scrimpy’s failure to take advantage of the discount offered by Frugal?
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