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Exxon Mobil Corporation has a beginning accounts payable of $1,800,000 and an ending accounts payable of $2,000,000. During the period, purchases made on credit were
Exxon Mobil Corporation has a beginning accounts payable of $1,800,000 and an ending accounts payable of $2,000,000. During the period, purchases made on credit were $9,500,000. Calculate: a) The cash paid to suppliers during the period. b) The change in accounts payable. c) The amount of credit purchases made during the period. d) The average accounts payable balance during the period. e) Evaluate the company's liquidity position based on its accounts payable turnover.
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