Don't use ai given answer accounting questions Suppose that SunsetLens Studio has annual sales of $345,000, costof goods sold of $248,000, average inventories of $12,400, averageaccounts receivable of $41,500, and an average accounts payablebalance of $27,800. Assuming that all of SunsetLens's sales are oncredit, what will be the firm's cash cycle? (Use 365 days a year. Donot round intermediate calculations. Round your final answer to 2decimal places.)

Step 1: Definition of Cash CycleThe cash cycle is the time it takes for a company to convert its…

Answered: Suppose that SunsetLens Studio has…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter22: Providing And Obtaining Credit

Section: Chapter Questions

Problem 2MC

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Suppose that LilyMac Photography has annual sales of $230,000, cost of goods sold of $165,000, average inventories of $4,500, average accounts receivable of $25,000, and an average accounts payable balance of $7,000.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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General accounting
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