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QUESTION
E: 3 Knight Roundtable Co. has annual credit sales of $576,000 and an average collection period of 40 days in 2008. What is the company's average
E: 3
Knight Roundtable Co. has annual credit sales of $576,000 and an average collection period of 40 days in 2008.
What is the company's average accounts receivable balance? (Use a 360-day year.)
Average accounts receivable balance $
