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Norwood Company reported a receivables turnover ratio of 8.6. Cost of goods sold was $380,000 and net sales revenue was $567,600. The average net receivables

Norwood Company reported a receivables turnover ratio of 8.6. Cost of goods sold was $380,000 and net sales revenue was $567,600. The average net receivables must have been:

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$132,000.

$66,000.

$49,500.

$99,000.

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