If you give me wrong answer, I will give you UN helpful rate. Sellograph Corporation reports sales of $10 millionfor Year 2, with a gross profit margin of 40%. 20% ofSellograph's sales are on credit.Year 1Year 2Account receivable $150,000 $170,000InventoryAccount payable$900,000 $1,000,000$1,100,000 $1,200,000Accounts payable days outstanding at the end of Year2 is closest to:A. 57.0 days.B. 66.0 days.C. 72.0 days.D. 43.2 days.

Step 1: Define Profit MarginThe term "profit margin" refers to a financial figure that shows how…

Answered: Sellograph Corporation reports sales of…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 3P

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