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QUESTION
CD has annual sales revenue of $2,007,500 and trade receivables of $330,000 which represent 60 days' sales based on a 365 day year.
CD has annual sales revenue of $2,007,500 and trade receivables of $330,000 which represent 60 days' sales based on a 365 day year. Sales and trade receivables are expected to continue at the same level for the next year. CD pays interest on its overdraft at a rate of 10% per annum.
Calculate
