Question
An analyst has obtained the following information regarding ABC, Inc. Using this information, he needs to estimate the company's Accounts Payable. Sales = $98,869 Cost
An analyst has obtained the following information regarding ABC, Inc. Using this information, he needs to estimate the company's Accounts Payable.
Sales = $98,869
Cost of Goods Sold (COGS) = $30,595
Cash Cycle = 34 days
Operating Cycle = 84 days
Accounts Receivable Period = AR Period = Average Collection Period (ACP) = 38 days
What is the company's Accounts Payable balance?
Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.
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Foundations Of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
11th Canadian Edition
1259024970, 978-1259265921
