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It takes Peteys Spa Products (PSP) an average of 48 days to sell its inventory...

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Accounting

It takes Peteys Spa Products (PSP) an average of 48 days to sell its inventory and an average of 18 days to collect its accounts receivable (DSR = 18). The firm has sales of $942,300 and costs of goods sold of $692,800. What is PSPs accounts receivable balance? Assume a 365-day year

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