Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose that Freddie's Fries has annual sales of $630,000; cost of goods sold of $505,000; average inventories of $22,000; average accounts receivable of $38,000, and

Suppose that Freddie's Fries has annual sales of $630,000; cost of goods sold of $505,000; average inventories of $22,000; average accounts receivable of $38,000, and an average accounts payable balance of $33,000. Assuming that all of Freddie's sales are on credit, what will be the firm's cash cycle? (Round your answer to 2 decimal places.) A.)14.07 B.) 1.83 C.) 61.77 D.) 37.92

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

Innovation And Technology

Authors: Nikos Vernardakis

1st Edition

0415676800, 978-0415676809

More Books

Students also viewed these Finance questions

Question

For the following exercises, use logarithms to solve. 9 x10 = 1

Answered: 1 week ago

Question

=+5.3. Show that m = E[ X ] minimizes E[(X- m)2].

Answered: 1 week ago