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14-15 Cash Cycle (LG14-3) Suppose that LilyMac Photography has annual sales of $222,000, cost of goods sold of $157,000, average inventories of $6,300, average accounts
14-15 Cash Cycle (LG14-3) Suppose that LilyMac Photography has annual sales of $222,000, cost of goods sold of $157,000, average inventories of $6,300, average accounts receivable of $28,600, and an average accounts payable balance of $19,000. Assuming that all of LilyMacs sales are on credit, what will be the firms cash cycle? (Use 365 days a year. Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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