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The Manana Corporation had annual sales of $60 million that occurred evenly throughout the 365 days of the year. Its accounts receivable balance averaged $2
The Manana Corporation had annual sales of $60 million that occurred evenly throughout the 365 days of the year. Its accounts receivable balance averaged $2 million. How long, on average, does it take the firm to collect on its sales? 19.1 days 25.2 days 15.8 days 12.2 days
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