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QUESTION
Suppose that Sales for the entire year were $200,000 and Cost of Goods Sold 60% of Sales. The inventory balance is $10,000, the Receivables...
Suppose that Sales for the entire year were $200,000 and Cost of Goods Sold 60% of Sales. The inventory balance is $10,000, the Receivables Collection Period is 20 days. What is the average accounts receivable? a) 5,000 b) 11,111 c) 14,141 d) 23,300
