JFP Co. buys on terms 2/10, net 30 but generally does not pay until the 40 days after invoice date. The recorded purchases net of discount amounted to P3,240,000 per year. How much is the average accounts payable outstanding?

JFP Co. buys on terms 2/10, net 30 but generally does not pay until the 40 days after invoice date. The recorded purchases net of discount amounted to P3,240,000 per year. How much is the average accounts payable outstanding?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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