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XYZ Corporation has annual sales of $600,000 and a cost of goods sold (COGS) of $250,000. The accounts payable period is 50 days. What is the average accounts payable balance? a) $33,561 b) $34,247 c) $35,616 d) $36,301 e) $37,000

XYZ Corporation has annual sales of $600,000 and a cost of goods sold (COGS) of $250,000. The accounts payable period is 50 days. What is the average accounts payable balance? a) $33,561 b) $34,247 c) $35,616 d) $36,301 e) $37,000

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
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XYZ Corporation has annual sales of $600,000 and a cost of goods sold (COGS) of $250,000. The accounts payable period is 50 days. What is the average accounts payable balance? a) $33,561 b) $34,247 c) $35,616 d) $36,301 e) $37,000
Transcribed Image Text:XYZ Corporation has annual sales of $600,000 and a cost of goods sold (COGS) of $250,000. The accounts payable period is 50 days. What is the average accounts payable balance? a) $33,561 b) $34,247 c) $35,616 d) $36,301 e) $37,000
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