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McGriff Dog Food Company normally takes 27 days to pay for average daily credit purchases of $9,460. Its average daily sales are $10,700, and it colects accounts in 27 days. a. What is its net credit position? Net credit position b-1. If the firm extends its average payment period from 27 days to 38 days (and all else remains the same), what is the firms new net credit position? (Negative amount should be indicated by a minus sign.) Net credit position b-2. Has the firm improved its cash flow? O Yes O No

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