Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Dexter, Inc., had a cost of goods sold of $75,318. At the end of the year, the accounts payable balance was $18,452. How long on

Dexter, Inc., had a cost of goods sold of $75,318. At the end of the year, the accounts payable balance was $18,452. How long on average did it take the company to pay off its suppliers during the year? Input area: Cost of goods sold Accounts payable balance Days per year (Use cells A6 to B8 from the given information to complete this question.) Output area: $75,318 $18,452 365 Payables turnover Days' sales in payables +
image text in transcribed
Dexter, Inc., had a cost of goods sold of $75,318. At the end of the year, the accounts payable balance was $18,452. How long on average did it take the company to pay off its suppliers during the year? Input area: (Use cells A6 to B8 from the given information to complete this question.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Financial Management

Authors: Eugene F. Brigham, Joel F. Houston

Concise 6th Edition

324664559, 978-0324664553

More Books

Students also viewed these Finance questions

Question

4-19. When you say weve doubled our profit level, you are (wrong).

Answered: 1 week ago