Suppose that LilyMac Photography has annual sales of $229,000, cost of goods sold of $164,000, average inventories of $5,600, average accounts receivable of $27,200, and an average accounts payable balance of $18,300. 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 and round your final answer to 2 decimal places.) Cash cycle days
Suppose that LilyMac Photography has annual sales of $229,000, cost of goods sold of $164,000, average inventories of $5,600, average accounts receivable of $27,200, and an average accounts payable balance of $18,300. 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 and round your final answer to 2 decimal places.) Cash cycle days
Chapter17: The Management Of Cash And Marketable Securities
Section: Chapter Questions
Problem 2P
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Need help this question general accounting
Transcribed Image Text:Suppose that LilyMac Photography has annual sales of $229,000,
cost of goods sold of $164,000, average inventories of $5,600,
average accounts receivable of $27,200, and an average accounts
payable balance of $18,300.
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 and round your final answer to 2 decimal places.)
Cash cycle days
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