Cash conversion cycle: Joanna Handicrafts, Inc., has net sales of $4.23 million with 50 percent being credit
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Cash conversion cycle: Joanna Handicrafts, Inc., has net sales of $4.23 million with 50 percent being credit sales. Its cost of goods sold is $2.54 million. The firm’s cash conversion cycle is 47.9 days, and its operating cycle is 86.3 days. What is the firm’s accounts payable balance?
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781119795438
5th Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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