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The following information has been taken from Preston's financial statement for the year ended December 20X7: Preston has inventory turnover of six times The year

The following information has been taken from Preston's financial statement for the year ended December 20X7:

Preston has inventory turnover of six times

The year end receivables collection period is 42 years

Cost of sales for the year was $1,690,000

Credit purchases for the year were $2,150,000

Average Accounts Payables $206,164

Preston's cash cycle at 31December 20X7 was 68 days

All calculations should be made to the nearest full day, and the trading year has 365 days

What is preston's trade payables collection period as at 31 December 20X7?

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