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How long does it take the firm to collect on its sales

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Reference no: EM133103500

Question - You are the auditor in the due diligence process of a potential takeover. The target company of the takeover, the Gilman Corporation, in the last fiscal year had sales of $60 million. You see from the balance sheet that, over the year, the accounts receivable balance averaged $2 million. How long, on average, does it take the firm to collect on its sales?

Reference no: EM133103500

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