Using the information provided, what is the accounts payable cycle for the firm? Allied Industries, Inc. Selected
Fantastic news! We've Found the answer you've been seeking!
Question:
Using the information provided, what is the accounts payable cycle for the firm?
Allied Industries, Inc.
Selected Income Statement Items, 2017
Cash Sales $1,500,000
Credit Sales $7,500,000
Total Sales $9,000,000
COGS $6,000,000
Allied Industries, Inc.
Selected Balance Sheet Accounts
12/31/2017 12/31/2016 Change
Accounts Receivable $270,000 $240,000 $30,000
Inventory $125,000 $100,000 $25,000
Accounts Payable $110,000 $90,000 $20,000
A.
4.06 days
B.
6.08 days
C.
24.33 days
D.
4.87 days
Expert Answer:
Posted Date:
