Business, 11.02.2021 17:40 saggin2454

Charming Paper Company sells to the 12 accounts listed here. Account Receivable Balance Outstanding Average Age of the Account Over the Last Year A $ 63,700 20 B 197,000 44 C 74,400 16 D 23,600 61 E 59,600 43 F 318,000 39 G 33,300 17 H 309,000 67 I 46,600 33 J 90,300 52 K 277,000 15 L 65,900 39 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 16.50 percent, and Capital charges 3.50 percent over prime to Charming as its annual loan rate. a. Determine the maximum loan for which Charming Paper Company could qualify.

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Charming Paper Company sells to the 12 accounts listed here. Account Receivable Balance Outstanding...

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