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explain in detail every step Q3: You have collected the following intormation for the Stowpay Company: Net sales for the year just ended were 2219,320

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Q3: You have collected the following intormation for the Stowpay Company: Net sales for the year just ended were 2219,320 and cost of goods sold was 2168,420 . How long does it take Slowpay to collect on its receivables? How long does merchandise stay around before it is sold? How long does Slowpay take to pay its bills? Calculate the operating and cash cycles. How do you interpret your answer? (15 Marks)

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