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Suppose that LilyMac Photography has annual sales of $238,000, cost of goods sold of $173,000, average inventories of $5,300, average accounts receivable of $26,600, and
Suppose that LilyMac Photography has annual sales of $238,000, cost of goods sold of $173,000, average inventories of $5,300, average accounts receivable of $26,600, and an average accounts payable balance of $7,800. Assuming that all of LilyMacs sales are on credit, what will be the firms cash cycle?
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