Collen Bakery purchases flour from a mill on a regular basis. The monthly purchase scheduleing and ending payables is provided below.

	Dec	Jan	Feb	Mar	Apr	May	June
Purchases	25	45	80	120	100	90	50
Ending payables		50	60	80	85	70	50

a. Calculate the days purchases outstanding for March, April, May, and June using quarterly purchases to calculate the average daily purchases.

b. What is your conclusion regarding the firm's payment behavior?

c. Below is presented a table showing the amount of payables remaining in successive months for purchases made during the January through June period of operations. Convert the table to a balance fraction matrix and discuss the firm's payment pattern as represented by the balance fraction table.

d. What is your conclusion about the firm's payment pattern?

Account Payables Balances

	Purchases	Jan	Feb	Mar	Apr	May	June
Jan	45	20	22
Feb	80		38	20
Mar	120			60	30
Apr	100				55	17
May	90					53	15
June	50						35
		NA	60	80	85	70	50