The Manana Corporation had sales of $54.3 million this year. Its accounts receivable balance averaged $5.6 million.

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The Manana Corporation had sales of $54.3 million this year. Its accounts receivable balance averaged $5.6 million. How long, on average, does it take the firm to collect on its sales?

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Fundamentals Of Corporate Finance

ISBN: 9781292437156

5th Global Edition

Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford

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Question Posted: Feb 21, 2024 10:00 AM

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The Manana Corporation had sales of $54.3 million this year. Its accounts receivable balance averaged $5.6 million.

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To calculate the average collection period we use the formula Average Co...View the full answer

Fundamentals Of Corporate Finance

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