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28 The Morister Truck operates several specialty vehicles that provide hot food and beverages for firms that have workers employed in outlying regions. The company

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The Morister Truck operates several specialty vehicles that provide hot food and beverages for firms that have workers employed in outlying regions. The company has annual sales of $631,100. Cost of goods sold average 51 percent of sales and the profit margin is 6.4 percent. The average accounts receivable balance is $36,600. On average, how long does it take the company to collect payment for its services? Assume 365 days per year. 21.17 days 17.46 days 17.24 days 29.58 days 19.40 days

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