With the following information, answer the following questions using the specified format (For example 40 days). This year, a business bought $10,000,000 worth of products from its suppliers. Its trade payables shown on the statement of financial position (balance sheet) is $1,000,000. During the following year, the company expects to buy $12,000,000 worth of products from its suppliers and estimate its trade payables to increase by $300,000. Next year's average payment period is expected to be ______.
With the following information, answer the following questions using the specified format (For example 40 days). This year, a business bought $10,000,000 worth of products from its suppliers. Its trade payables shown on the statement of financial position (balance sheet) is $1,000,000. During the following year, the company expects to buy $12,000,000 worth of products from its suppliers and estimate its trade payables to increase by $300,000. Next year's average payment period is expected to be ______.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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With the following information, answer the following questions using the specified format (For example 40 days).
This year, a business bought $10,000,000 worth of products from its suppliers. Its trade payables shown on the
Next year's average payment period is expected to be ______.
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