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Joanna Handicrafts, Inc., has net sales of $3.50 million with 50 percent being credit sales. Its cost of goods sold is $2.10 million. The firms
Joanna Handicrafts, Inc., has net sales of $3.50 million with 50 percent being credit sales. Its cost of goods sold is $2.10 million. The firms cash conversion cycle is 43.50 days, and its operating cycle is 90.5 days. What is the firms accounts payable? (Round intermediate calculations to 1 decimal place, e.g. 25.1 and final answer to nearest whole dollar, e.g. 5,275.)
The firms accounts payable are $ |
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