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What is the average balance of accounts receivable

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Question - A corporation usually sells on terms of 2/10, n/30/ 70% of customers normally avail of the discounts. Annual sales is $900,000, 80% of which is made on credit. Cost is approximately 75% of sales.

Required -

1. What is the average balance of accounts receivable?

2. Average investment in accounts receivable.

Reference no: EM132483308

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