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Question 1 14 pts This year, a business bought $10,000,000 worth of products from its suppliers. Its trade payables shown the statement of financial position
Question 1 14 pts This year, a business bought $10,000,000 worth of products from its suppliers. Its trade payables shown the statement of financial position is $1,000,000. During the following year, the company expects to buy $12,000,000 worth of products from its suppliers and estimate its trade payables to increase by $300,000. (round to the nearest whole number) 1. What is this year's average payment period (in days)? 2. What is next year's average payment period (in days)
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