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QUESTION
A firm has sales of $705 thousand. The cost of goods sold is equal to 60 percent of sales.
A firm has sales of $705 thousand. The cost of goods sold is equal to 60 percent of sales. The beginning accounts receivable balance is $33 thousand and the ending accounts receivable balance is $36 thousand. How many days on average does it take the firm to collect its receivables? Enter answer as a number with 2 decimal places.
