Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 3-9 Calculating Average Payables Period (LO 2] For the past year, Hawkeye, Inc., had a cost of goods sold of $66,382. At the end

image text in transcribed
Problem 3-9 Calculating Average Payables Period (LO 2] For the past year, Hawkeye, Inc., had a cost of goods sold of $66,382. At the end of the year, the accounts payable balance was $12,289. How long on average did it take the company to pay off its suppliers during the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Days' sales in payables

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_2

Step: 3

blur-text-image_3

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

Finance And Economics Discussion Series Consumer Sentiment And The Stock Market

Authors: United States Federal Reserve Board, Mary Ward Otto

1st Edition

1288717822, 9781288717828

More Books

Students also viewed these Finance questions