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A firm is planning for next year and has developed the following information This year's sales $7.20M Next year's sales $8.28M This year's Accounts receivable

A firm is planning for next year and has developed the following information

This year's sales $7.20M

Next year's sales $8.28M

This year's Accounts receivable $1.00M.

What receivables balance should the firm plan for next year if management intends to reduce the ACP by five days? (Calculate using ending balances and a 360-day year): Select one

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Answer we can calculate the receivables balance for next year by multiplying the average daily sales ... blur-text-image

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