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Suppose that LilyMac Photography has annual sales of $231,000, cost of goods sold of $166,000, average inventories of $4,600, average accounts receivable of $25,200, and
Suppose that LilyMac Photography has annual sales of $231,000, cost of goods sold of $166,000, average inventories of $4,600, average accounts receivable of $25,200, and an average accounts payable balance of $7,100. Assuming that all of LilyMacs sales are on credit, what will be the firms cash cycle?
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