Question
A company has a beginning balance of accounts payable of $20,000 and an ending balance of accounts payable of $15,000. The company made purchases on
A company has a beginning balance of accounts payable of $20,000 and an ending balance of accounts payable of $15,000. The company made purchases on account of $100,000 during the year. What is the company's accounts payable turnover ratio for the year?
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
5th edition
9780133851281, 013385129x, 9780134077321, 133866297, 133851281, 9780133851298, 134077326, 978-0133866292
