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Problem 9-15 A firm has no cash sales (all sales are on credit and are collected 33 days after the sale). If the receivables are $109,000, what is the level of sales? Assume there are 365 days in a year. Round your answer to the nearest dollar. $

Problem 9-15 A firm has no cash sales (all sales are on credit and are collected 33 days after the sale). If the receivables are $109,000, what is the level of sales? Assume there are 365 days in a year. Round your answer to the nearest dollar. $

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 6P
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Problem 9-15 A firm has no cash sales (all sales are on credit and are collected 33 days after the sale). If the receivables are $109,000, what is the level of sales? Assume there are 365 days in a year. Round your answer to the nearest dollar. $
Transcribed Image Text:Problem 9-15 A firm has no cash sales (all sales are on credit and are collected 33 days after the sale). If the receivables are $109,000, what is the level of sales? Assume there are 365 days in a year. Round your answer to the nearest dollar. $
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