Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tortoise, Inc., had a cost of goods sold of $44,921. At the end of the year, the accounts payable balance was $8,473. How long on

Tortoise, Inc., had a cost of goods sold of $44,921. At the end of the year, the accounts payable balance was $8,473. 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 final answer to 2 decimal places. (e.g., 32.16))

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

History Of Financial Institutions Essays On The History Of European Finance 1800–1950

Authors: Carmen Hofmann , Martin L. Müller

1st Edition

1138325007, 978-1138325005

More Books

Students also viewed these Finance questions

Question

2. What should an employer do when facing an OSHA inspection?

Answered: 1 week ago