Saved Problem 16-15 Cash and Operating Cycles [LO 3] Valenzuela, Incorporated, has a cash cycle of 45 days, an operating cycle of 66 days, and an inventory period of 28.5 days. The company reported cost of goods sold in the amount of $345,000, and credit sales were $568,000. What is the company's average balance in accounts payable and accounts receivable? Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Average accounts payable Average accounts receivable
Saved Problem 16-15 Cash and Operating Cycles [LO 3] Valenzuela, Incorporated, has a cash cycle of 45 days, an operating cycle of 66 days, and an inventory period of 28.5 days. The company reported cost of goods sold in the amount of $345,000, and credit sales were $568,000. What is the company's average balance in accounts payable and accounts receivable? Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Average accounts payable Average accounts receivable
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Problem 16-15 Cash and Operating Cycles [LO 3]
Valenzuela, Incorporated, has a cash cycle of 45 days, an operating cycle of 66 days, and an inventory period of 28.5 days. The
company reported cost of goods sold in the amount of $345,000, and credit sales were $568,000. What is the company's average
balance in accounts payable and accounts receivable?
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.
Average accounts payable
Average accounts receivable](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faed86f9c-0236-46b3-9aa9-d694fb982d7c%2Fca5a2295-184f-4311-b397-d0475a1bfe24%2Fm3emkdi_processed.jpeg&w=3840&q=75)
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Problem 16-15 Cash and Operating Cycles [LO 3]
Valenzuela, Incorporated, has a cash cycle of 45 days, an operating cycle of 66 days, and an inventory period of 28.5 days. The
company reported cost of goods sold in the amount of $345,000, and credit sales were $568,000. What is the company's average
balance in accounts payable and accounts receivable?
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.
Average accounts payable
Average accounts receivable
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