Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

see photo for question. please round accordingly Problem 3-10 Calculating Average Payables Period [LO2] Heritage, Inc., had a cost of goods sold of $45,521. At

image text in transcribed

see photo for question. please round accordingly

Problem 3-10 Calculating Average Payables Period [LO2] Heritage, Inc., had a cost of goods sold of $45,521. At the end of the year, the accounts payable balance was $8,713. How long on average did it take the company to pay off its suppliers during the year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Days' sales in payables days

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

Small Brewery Finance

Authors: Maria Pearman

1st Edition

1938469526, 978-1938469527

More Books

Students also viewed these Finance questions