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Question ABC has sales of $498,000, cost of goods sold of $263,000, and accounts receivable of $61,000. How long on average does it take the firm’s customers to pay for their purchases?

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Question

ABC has sales of $498,000, cost of goods sold of $263,000, and accounts receivable

of $61,000. How long on average does it take the firm’s customers to pay for their purchases?

 
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