Quattro Incorporated has an investment in accounts receivable of $3,500,000. Daily credit sales are $120,000. If 20% of Quattro's credit customers receive a discount by paying within 10 days,what is the net period that Quattro maintains?
A) 10 days
B) 23 days
C) 38 days
D) 45 days
E) There is not enough information to tell.

Question

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The Answer of Quattro Incorporated has an investment in accounts receivable of $3,500,000. Daily credit sales are $120,000. If 20% of Quattro's credit customers receive a discount by paying within 10 days,what is the net period that Quattro maintains?
A) 10 days
B) 23 days
C) 38 days
D) 45 days
E) There is not enough information to tell.

Quattro Incorporated Has an Investment in Accounts Receivable of $3,500,000