Suppose that LilyMac Photography has annual sales of $222,000, cost of goods sold of $157,000, average inventories of $6,300, average accounts receivable of $28,600, and an average accounts payable balance of $19,000. Assuming that all of LilyMac's sales are on credit, what will be the firm's cash cycle? (Use 365 days a year. Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Suppose that LilyMac Photography has annual sales of $222,000, cost of goods sold of $157,000, average inventories of $6,300, average accounts receivable of $28,600, and an average accounts payable balance of $19,000. Assuming that all of LilyMac's sales are on credit, what will be the firm's cash cycle? (Use 365 days a year. Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Chapter17: The Management Of Cash And Marketable Securities
Section: Chapter Questions
Problem 2P
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Please provide this question solution general accounting
Transcribed Image Text:Suppose that LilyMac Photography has annual sales of $222,000, cost
of goods sold of $157,000, average inventories of $6,300, average
accounts receivable of $28,600, and an average accounts payable
balance of $19,000.
Assuming that all of LilyMac's sales are on credit, what will be the
firm's cash cycle? (Use 365 days a year. Do not round intermediate
calculations. Round your final answer to 2 decimal places.)
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