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Problem 7-23 Credit policy decision with changing variables [LO7-4] Dome Metals has credit sales of...

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Accounting

Problem 7-23 Credit policy decision with changing variables [LO7-4]

Dome Metals has credit sales of $180,000 yearly. If Dome offers a 3 percent discount for payment in 18 days, what would the average accounts receivable balance be? Assume all customers would pay on the last day of the discount period. (Use a 360-day year.)

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