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Determine its average collection period

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Question - Miza and Munip's Berhad has a gross profit margin of 25% and sales of RM8 million. Of its sales, 80% are on credit while the remainder are cash sales. This company's current assets equal RM500,000 and current liabilities amount to RM80,000. It also has RM36,000 in cash plus marketable securities. If the firm's accounts receivable balance is RM250,000, determine its average collection period.

Reference no: EM132961686

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