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1 Construct the Current Assets section of the Balance Sheet from the following Sales (Credit) Gross Profit ( 15% of Sales ) Inventory Turnover Current

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1 Construct the Current Assets section of the Balance Sheet from the following Sales (Credit) Gross Profit ( 15% of Sales ) Inventory Turnover Current Liabilities Working Capital Average Collection Period 1,250,000 20x 225,000 (75,000) 27 days

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