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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:
Multiple Choice
$132,000.
$66,000.
$49,500.
$99,000.
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