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Arnold Inc. has sales of $1,000,000 per year, all on credit

Customer Question

Arnold Inc. has sales of $1,000,000 per year, all on credit terms calling for payment within 30 days, and its accounts receivable are $200,000. How much capital would be released if Arnold could take actions that caused all of its customers to make on-time payments without affecting sales, i.e., by how much would its accounts receivable decline?
Submitted: 8 years ago.
Category: Homework
Expert:  vinsu replied 8 years ago.

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