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Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 1/10, net 30. Based on experience, 65 percent of all customers will
Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 1/10, net 30. Based on experience, 65 percent of all customers will take the discount. The average collection period is 17 days. If the company sells 1,200 forecasts every month at a price of $2,300 each, what is its average balance sheet amount in accounts receivable
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