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Cullumber Handicrafts, Inc., has net sales of $4.50 million with 50 percent being credit sales. Its cost of goods sold is $2.70 million. The firms
Cullumber Handicrafts, Inc., has net sales of $4.50 million with 50 percent being credit sales. Its cost of goods sold is $2.70 million. The firms cash conversion cycle is 31.5 days, and its operating cycle is 95.5 days. What is the firms accounts payable? (Use 365 days for calculation. Round final answer to the nearest whole dollar, e.g. 5,275.)
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