= VAT is payable at 20% on sales and purchases. VAT payable for month n equals the

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=◦ VAT is payable at 20% on sales and purchases. VAT payable for month n equals the difference between VAT collected on sales in month n and VAT recoverable on sales in month n, and is paid at the latest on the 25th of the month (n + 1).

Using the above data, calculate the working capital of the company in days of sales

(excl. VAT).

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Corporate Finance Theory And Practice

ISBN: 9781118849330

4th Edition

Authors: Pierre Vernimmen, Pascal Quiry, Maurizio Dallocchio, Yann Le Fur, Antonio Salvi

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