Question
1. The information provided below to Croesus limited for the 2021 and 2022 financial years. Information 2022 2021 R R Sales (50% credit) 5150 000
1. The information provided below to Croesus limited for the 2021 and 2022 financial years. Information 2022 2021 R R Sales (50% credit) 5150 000 4680 000 Gross profit 2317 500 1872 000 Profit after tax 738 000 648 000 Trade and other receivables 1150 000 1050 000 Trade and other payables 446 000 373 000 Inventor 840 000 930 000 Assuming that all purchases were on credit, use the information provided above to determine Croesus average creditor payment period for 2022.(Please calculate and use the average of the trade and other payables for 2021 and 2022 to determine the average creditor payment period)
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