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Red Hot Chili's had annual credit sales of $800,000 over the past year. During that time, average receivables were $200,000. What was the days' sales
Red Hot Chili's had annual credit sales of $800,000 over the past year. During that time, average receivables were $200,000. What was the days' sales outstanding or average collection period (ACP)? [HINT: ACP = (365 days)(average receivables)
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