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XYZ Corporation has the following financial information: • Annual Sales: $800,000 Cost of Goods Sold: $320,000 Accounts Payable Period: 36.5 days What is the average accounts payable balance?

XYZ Corporation has the following financial information: • Annual Sales: $800,000 Cost of Goods Sold: $320,000 Accounts Payable Period: 36.5 days What is the average accounts payable balance?

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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What is the average accounts payable balance? ?

XYZ Corporation has the following financial information: • Annual Sales: $800,000 Cost of Goods Sold: $320,000 Accounts Payable Period: 36.5 days What is the average accounts payable balance?
Transcribed Image Text:XYZ Corporation has the following financial information: • Annual Sales: $800,000 Cost of Goods Sold: $320,000 Accounts Payable Period: 36.5 days What is the average accounts payable balance?
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