The MalibuCorporation has annual credit sales of $30 million. The average collection period is 32 days.What is
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Question:
The MalibuCorporation has annual credit sales of $30 million. The average collection period is 32 days.What is the average investment in accounts receivable as shown on the balance sheet?(Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, roundedto 2 decimal places, e.g., 1,234,567.89.)
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