2023 Charmin Paper Company sells to the 12 accounts listed below Account Receivable Balance Outstanding Average | Assignments Online
2023 Charmin Paper Company sells to the 12 accounts listed below Account Receivable Balance Outstanding Average | Assignments Online
Assignments Online 2023 Business & Finance
| Charmin Paper Company sells to the 12 accounts listed below. | ||||||||||
| Account | Receivable Balance Outstanding | Average of the Account over the Last Year | ||||||||
| A | $60,000 | 28 | ||||||||
| B | 120,000 | 43 | ||||||||
| C | 70,000 | 10 | ||||||||
| D | 20,000 | 52 | ||||||||
| E | 50,000 | 42 | ||||||||
| F | 220,000 | 34 | ||||||||
| G | 30,000 | 16 | ||||||||
| H | 300,000 | 65 | ||||||||
| I | 40,000 | 33 | ||||||||
| J | 90,000 | 50 | ||||||||
| K | 210,000 | 14 | ||||||||
| L | 60,000 | 35 | ||||||||
| Capital Financial Corporation will lend 90 percent against account balances that have averaged 30 days or less; 80 percent for account balances between 31 and 40 days; and 70 percent for account balances, between 41 and 45 days. Customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. The current prime rate is 8.5 percent, and Capital charges 3.5 percent over prime to Charmin as its annual loan rate. | ||||||||||
| a. Determine the maximum loan for which Charmin Paper Company could qualify. | ||||||||||
| b. Determine how much one month’s interest expense would be on the loan balance determined in part a. | ||||||||||
Assignmentsonline.org help students to solve their assignment in the best possible manner. In the assignment help industry, we are regarded as one of the best helpers for students’ tasks in all subjects. We provide solutions to students from all corners of the world, but the main focus is from students residing in the US, UK, and Australia. Our primary focus is solving student assignments for all subjects and streams.
Place Order NOw
Assignment online is a team of top-class experts whose only goal is to give you the best assignment help service. Follow the link below to order now...
#write essay #research paper
