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Using the information provided, what is the accounts payable cycle for the firm? Perfect Purchase Electronics Selected Income Statement Items, 2009 Cash Sales $1,500,000 Credit

Using the information provided, what is the accounts payable cycle for the firm?

Perfect Purchase Electronics

Selected Income Statement Items, 2009

Cash Sales $1,500,000

Credit Sales $7,500,000

Total Sales $9,000,000

COGS $6,000,000

Perfect Purchase Electronics

Selected Balance Sheet Accounts

12/31/2009 12/31/2008 Change

Accounts Receivable $270,000 $240,000 $30,000

Inventory $125,000 $100,000 $25,000

Accounts Payable $110,000 $90,000 $20,000

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