A company reports purchases of $418,000, a beginning accounts payable balance of $48,000, and an ending...

Transcribed Image Text:

A company reports purchases of $418,000, a beginning accounts payable balance of $48,000, and an ending accounts payable balance of $40,000. All purchases were on account. The company's accounts payable turnover would be closest to: (Values are rounded to two decimal places, X.XX.) A company reports purchases of $418,000, a beginning accounts payable balance of $48,000, and an ending accounts payable balance of $40,000. All purchases were on account. The company's accounts payable turnover would be closest to: (Values are rounded to two decimal places, X.XX.)

Answer rating: 100% (QA)

To calculate the accounts payable turnover we need to use the followin... View the full answer