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Question 7-10 Mervyn's Fine Fashions has an average colletction period of 50 days. The accounts receivable balance is $95,000. What is the value of it's credit
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Jimmy has $10,000 in cash now. He could borrow or lend money at 11 percent per period. His other choice is a project that cost $7,000 now and payoff of $12,000 at retirement.
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