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Question 11 The average collection period describes how many days a firm takes to collect its credit sales. If a firm has $10 M annual

Question 11

The average collection period describes how many days a firm takes to collect its credit sales. If a firm has $10 M annual sales, 2.5M accounts receivables, whats the firms average collection period (we assume 360 days a year)?

		40 days
		60 days
		90 days
		120 days

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