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Q1) Whirlewind Company sells to retail appliance stores on credit terms of net 30. Annual credit sales are $182,500,000 spread evenly all through year and its accounts average 20 days overdue. Firm's variable cost ratio is 0.70. Find out Whirlewind's average investment in receivables. (Suppose 365 days per year on all calculations.)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M919953

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