Survey Of Accounting
Survey Of Accounting
4th Edition
ISBN: 9780077862374
Author: Edmonds, Thomas P.
Publisher: Mcgraw-hill Education,
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Chapter 4, Problem 8Q

9. What are the attributes of a high-quality employee?

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Pinnacle Corp. reports sales of $15 million for Year 2, with a gross profit margin of 35%. 25% of Pinnacle's sales are on credit. Item Year I Accounts Receivable $200,000 Year 2 $250,000 $1,200,000 $1,500,000 $1,000,000 $1,100,000 Inventory Accounts Payable What is the accounts payable days outstanding at the end of Year 2 for Pinnacle Corp.?
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