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Posted by: Homeworkhelp
Price Quoted by Student: $4
Posted On: 2012-06-03 12:12:38

Miranda Tool Company sells to retail hardware stores on credit terms of “net 30.” Annual credit sales are $18 million and are spread evenly throughout the year. Th e company’s variable cost ratio is 0.70, and its accounts receivable average $1.9 million. Using this information, determine the following for the company:

a. Average daily credit sales

b. Average collection period

c. Average investment in receivables

Miranda Tool Company sells to retail hardware stor
Price $4
Attachment 1: Miranda Tool Company.doc
Solution Posted By: Homeworkhelp    Posted on: 03-06-2012