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Treadwater's Mill has a current ratio of 1.41, a quick ratio of .86, net income of $105,000, a profit margin of 7.5 percent, and an

Treadwater's Mill has a current ratio of 1.41, a quick ratio of .86, net income of $105,000, a profit margin of 7.5 percent, and an accounts receivable balance of $62,000. What is the firm's average collection period. Average collection period refers to the number of days of yearly sales (365 days) the receivables balance represents.

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