Answered: XYZ Company has annual sales of…

XYZ Company has annual sales of $600,000 and cost of goods sold of $240,000. The accounts payable period is 36 days. Calculate the average accounts payable balance.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 2P: Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers...

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Xyz company has annual sales solution this general accounting question

XYZ Company has annual sales of $600,000 and cost of goods sold of
$240,000. The accounts payable period is 36 days. Calculate the
average accounts payable balance.

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