Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Underground Funeral Services has annual sales of $875,600. The cost of goods sold is equal to 81 percent of sales. The firm has an average
Underground Funeral Services has annual sales of $875,600. The cost of goods sold is equal to 81 percent of sales. The firm has an average accounts receivable balance of $85,800 and an average accounts payable balance of $72,450. How many days on average does it take the firm to pay its suppliers?
Multiple Choice
-
30.20 days
-
39.95 days
-
37.29 days
-
34.18 days
-
44.16 days
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started