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Music City has an average collection period of 34.6 days and an average daily investment in receivables of $71,407. What are the annual credit sales
Music City has an average collection period of 34.6 days and an average daily investment in receivables of $71,407. What are the annual credit sales given a 365-day year?
A) $668,407
B) $577,109
C) $753,282
D) $625,893
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