A company has a beginning balance of accounts payable of $20,000 and an ending balance of accounts
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A company has a beginning balance of accounts payable of $20,000 and an ending balance of accounts payable of $15,000. The company made purchases on account of $100,000 during the year. What is the company's accounts payable turnover ratio for the year?
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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