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13. (Accounts payable ratios) A firm purchased $60,000 of merchandise inventory. Determine the firm's ac- counts payable turnover and payables period ratios if the firm

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13. (Accounts payable ratios) A firm purchased $60,000 of merchandise inventory. Determine the firm's ac- counts payable turnover and payables period ratios if the firm maintained an average balance in the account accounts payable-merchandise inventory of: a. $3,000 c. $10,000 b. $6,000 d. $20,000 14 CA contenovo Motionfirm nachoendc400 000

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