Answered: Summit Enterprises has annual sales of…

Summit Enterprises has annual sales of $525,000 and a cost of goods sold of $210,750. The accounts payable period is 50.25 days. What is the average accounts payable balance?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Please help me with this question general Accounting

Summit Enterprises has annual sales of $525,000
and a cost of goods sold of $210,750.
The accounts payable period is 50.25 days.
What is the average accounts payable balance?

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