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If the receivable turnover ratio is 6, what is the average outstanding credit for a year when annual credit sales amounted to $2.28 million? If sales price includes a mark up of 40%, and if the products are made on borrowed capital accruing simple interest at the rate of 4%, what is the interest cost due to credit sales?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M9697336

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