Consider the following financial statement information for the Mediate Corporation: Item Inventory Beginning $ 8,413 Ending...

  

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Consider the following financial statement information for the Mediate Corporation: Item Inventory Beginning $ 8,413 Ending $ 9,507 Accounts 5,108 5,772 receivable Accounts payable 6,927 7,828 Credit sales $76,063 Cost of goods 52,827 sold Required: (a)Calculate the operating cycles. (Do not round your intermediate calculations.) (Click to select) (b)Calculate the cash cycle. (Do not round your intermediate calculations.) (Click to select) Consider the following financial statement information for the Mediate Corporation: Item Inventory Beginning $ 8,413 Ending $ 9,507 Accounts 5,108 5,772 receivable Accounts payable 6,927 7,828 Credit sales $76,063 Cost of goods 52,827 sold Required: (a)Calculate the operating cycles. (Do not round your intermediate calculations.) (Click to select) (b)Calculate the cash cycle. (Do not round your intermediate calculations.) (Click to select)

Answer rating: 100% (QA)

To calculate the operating cycle and cash cycle we need to use the following formulas 1 Operating Cy... View the full answer