(Answered) Music city inc has an average collection period of 41 days

Finance

Music City, Inc., has an average collection period of 41 days. Its average daily investment in receivables is $70,800. Assume 365 days per year.

What is the receivables turnover? (Round your answer to 4 decimal places (e.g., 32.1616).)

What are annual credit sales? (Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)

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