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Receivables investment

McDowell Industries sells on terms of 3/10, net 30. Total sales for the year are $715,000; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 50 days after their purchases. Assume 365 days in year for your calculations.

What is the days' sales outstanding? Round your answer to two decimal places. x days

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91622323

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