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What is the average investment in accounts receivable

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The Malibu Corporation has annual credit sales of $35 million. The average collection period is 37 days. What is the average investment in accounts receivable as shown on the balance sheet? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.)

Reference no: EM132616738

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