2. Calculate the days payables outstanding for March Wycliff Contractors, Inc., has the following monthly purchasing schedule and ending accounts payable:

Dec. Jan. Feb. Mar. Apr. May June

Purchases $400 $375 $350 $325 $400 $500 $650

Ending payables 342 320 297 345 430 555

a. , April, May, and June using quarterly purchases to calculate the average daily purchases.

b. The following table shows the amount of payables remaining in successive months for purchases made during the January through June period of operations. Convert the table to a balance fraction matrix.

Accounts Payable Balances

Purchases Jan. Feb. Mar. Apr. May June

Jan. $375 $262 $75

Feb. 350 245 $70

Mar. 325 227 $65

Apr. 400 280 $80

May 500 350 $100

June 650 455

$320 $297 $345 $430 $555