How many days did it take company to collect its receivables, Financial Accounting

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How many days did it take company to collect its receivables

Problem

In 2022 Georgetown Inc. had a cost of goods sold of $20 million and sales of $30 million. At the end of the year, its inventory was $4 million and its accounts receivable were $3 million. On average, how many days did it take the company to collect its receivables in 2022?

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Financial Accounting: How many days did it take company to collect its receivables

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