Question
Consider the following financial statement information for Gemini International Item Inventory Accounts receivable Beginning ($) 55,000 40,000 Ending ($) 58,000 38,000 Net Sales: $360,000 Cost
Consider the following financial statement information for Gemini International Item Inventory Accounts receivable
Beginning ($) 55,000 40,000
Ending ($) 58,000 38,000
Net Sales: $360,000 Cost of Goods Sold: $228,000 Assume all sales are on credit. Furthermore, there are 58.75 days between the cash outflow and cash inflow for the company. What is the companys account payable period?
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National Finance A Chinese Perspective
Authors: Yunxian Chen, Heming Yong
1st Edition
9813360917, 978-9813360914
