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Music City, Inc., has an average collection period of 46 days. Its average daily investment in receivables is $67,800. Assume 365 days per year. What
Music City, Inc., has an average collection period of 46 days. Its average daily investment in receivables is $67,800. Assume 365 days per year.
What is the receivables turnover? (Round your answer to 4 decimal places (e.g., 32.1616).) |
Receivables turnover | times |
What are annual credit sales? (Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).) |
Annual credit sales | $ |
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