• Analyze the accounts payable for LMN Corporation with the following data:

  Date	Invoice Number	Amount ($)
  Jan 5	INV-001	$10,000
  Jan 10	INV-002	$8,000
  Jan 20	INV-003	$12,000

  Requirements:

  • Calculate the total accounts payable.
  • Discuss the importance of managing accounts payable effectively.
  • Provide recommendations for improving accounts payable processes.