Mandesa, Inc., has current liabilities of $8 million, current ratio of 2 times, inventory turnover...
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Accounting
Mandesa, Inc., has current liabilities of $8 million, current ratio of 2 times, inventory turnover of 12 times, average collection period of 30 days, and credit sales of $64 million.
Calculate the value of cash and marketable securities. (Use 365 days a year. Round your intermediate calculations and final answer to the nearest dollar amount.)
Cash and marketable securities
$
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