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ALPHA, Inc. sells all of its products on credit. Purchases are 6 0 % of the sales for the following quarter. The firm uses a
ALPHA, Inc. sells all of its products on credit. Purchases are of the sales for the following quarter. The firm uses a day year and account averages where applicable in its computations.
The financial manager of the firm provides the following relevant information:
Accounts receivable period days
Inventory period days
Accounts payable period days
Account Quarter Quarter Quarter Quarter
Sales $ $ $ $
Wages $ $ $ $
Overhead expenses $ $ $ $
Dividends $ $ $ $
Interest expense $ $ $ $
What is the accounts payable balance at the beginning of Quarter
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