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What is a firm's average balance in accounts payable if the firm has a cash cycle of 13.5 days, an operating cycle of 21 days,
What is a firm's average balance in accounts payable if the firm has a cash cycle of 13.5 days, an operating cycle of 21 days, and an inventory period of 2 days. The firm reported cost of goods sold in the amount of $280,000 and credit sales were $430,000.
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