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Chacha Corp is planning to change its credit policy. The proposed change is expected to shorten the collection period from 50 to 30 days; increase

Chacha Corp is planning to change its credit policy. The proposed change is expected to shorten the collection period from 50 to 30 days; increase the ratio of cash sales to total sales from 20% to 30%; decrease total sales by 10%. If projected sales fro the coming year is P40M, what is the peso impact on the average accounts receivable balance of the proposed change in credit policy? (use 360 days in a year.)

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