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Consider the following financial statement information: Account Beginning Balance Ending Balance Inventory $ 18,600 $ 19,400 Accounts receivable 4,200 4,500 Accounts payable 5,800 5,200 Net
Consider the following financial statement information:
Account | Beginning Balance | Ending Balance | ||||
Inventory | $ | 18,600 | $ | 19,400 | ||
Accounts receivable | 4,200 | 4,500 | ||||
Accounts payable | 5,800 | 5,200 | ||||
Net sales | 76,400 | |||||
Cost of goods sold | 51,700 |
Assume all sales and purchases are on credit.: How long is the cash cycle? (Use average balance sheet account balances.) Multiple Choice 80.21 days 116.09 days 101.03 days 113.58 days 73.57 days
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