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Kesuma Agih Bhd.'s total sales for the year ended 31 December 2007 was RM10.6 million. The annual credit sales amounted to 70% of the total annual sales. The outstanding balances of accounts receivables for the year were 30% of the total annual credit sales. The inventory turnover period shows that the company took 62 days to convert the raw material into finished goods and to sell the goods to customers. The outstanding payables were RM1.3 million, with annual purchases of RM4 million. Required: (a) State TWO ways in which the level of trade receivables of a business could be reduced. (b) Calculate the following: (i) Receivables collection period. (ii) Payables payment period. (iii) Working capital cycle