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4-6 Lights Out Utilities (LOU) purchases $15,000 in raw materials from its suppliers each day. LOU's accounts payable turnover is 12. (a) What is LOU's

4-6 Lights Out Utilities (LOU) purchases $15,000 in raw materials from its suppliers each day. LOU's accounts payable turnover is 12. (a) What is LOU's payables deferral period (DPO)? (b) What is the average accounts pay able balance that is reported on LOU's financial statements

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