Question
2. Sales (all credit): $6,000,000; Cost of Goods Sold: 80% of Sales; Accounts receivable: $350,000; Inventory: $600,000; Accounts payable: $150,000 What is the approximate Days
2. Sales (all credit): $6,000,000; Cost of Goods Sold: 80% of Sales; Accounts receivable: $350,000; Inventory: $600,000; Accounts payable: $150,000 What is the approximate Days of Payable Outstanding? Use 1 year = 365 days
| 12 days. | ||
| 56 days. | ||
| 21 days | ||
| 46 days. |
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Managerial Accounting
Authors: Morse Hartgraves
8th Edition
1618532359, 9781618532350
