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Average value of unpaid bills

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On average, it takes Microlimp's customers 60 days to pay their bills. If Microlimp has annual sales of $500 million, what is the average value of unpaid bills?

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Solution Summary

The solution explains how the calculate the accounts receivable balance given the number of days taken by the customers to pay their bills

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The customers pay their bills in 60 days. In order to find the value of unpaid bills, we need to find out what is the value of the ...

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