Quiz – Determine the average collection period for The HOT Truck

Essentials of Corporate Finance

Ross, Westerfield, and Jordan

10th Edition

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Calculate the average collection period for The HOT Truck, a company that operates specialty vehicles providing hot food and beverages for firms in outlying regions. The company has annual sales, a cost of goods sold, and a profit margin. Additionally, the average accounts receivable balance is given. Determine how long it takes for this food truck to collect payment for its services on average.

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