Question
ABC Company has annual sales of $400,000 and cost of goods sold of $314,238. The accounts payable period is 47.62 days. What is the average
ABC Company has annual sales of $400,000 and cost of goods sold of $314,238. The accounts payable period is 47.62 days. What is the average accounts payable balance?
Enter your answer rounded off to two decimal points. For example, if your answer is 12.345 then enter as 12.35 in the answer box.
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Small Business Management Launching and Growing New Ventures
Authors: Justin Longenecker, Leo Donlevy, Terri Champion, William Petty, Leslie Palich, Frank Hoy
6th Canadian edition
176532218, 978-0176532215
