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    maandpa1227 Posts: 17, Reputation: 1
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    Aug 29, 2007, 11:01 AM
    Value of credit sales
    Mervyn’s Fine Fashions has an average collection period of 40 days. The accounts receivable balance is $80,000. What is the value of its credit sales?

    I understand that credit sales are non-cash sales. This is my answer = $2,000

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