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of Financial Management Block, Hirt, and Danielsen, 16e, Finandal Analysis Type your answer in the box. The companmy has the credit sales of $10,000,000, total assets of $2,100,000, fixed assets of $1,000.000, inventory of $600,000, and accounts receivable of $500,000. The companys average collection period is days (use a 360 day year and round to the nearest whole number- Read about this Do you know the answer? I know it Think so Unsure No idea Read O Type here to

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Answer #1
Average collection period = Accounts Receivable/Credit sales*360
Average collection period = 500000/10000000*360= 18
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