Hanse, Inc., has a cash cycle of 38.5 days, an operating cycle of 62.4 days, and...
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Hanse, Inc., has a cash cycle of 38.5 days, an operating cycle of 62.4 days, and an inventory period of 24.4 days. The company reported cost of goods sold in the amount of $445,000, and credit sales were $724,000. What is the company's average balance in accounts payable and accounts receivable? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Average accounts payable Average accounts receivable Hanse, Inc., has a cash cycle of 38.5 days, an operating cycle of 62.4 days, and an inventory period of 24.4 days. The company reported cost of goods sold in the amount of $445,000, and credit sales were $724,000. What is the company's average balance in accounts payable and accounts receivable? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Average accounts payable Average accounts receivable
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Answer rating: 100% (QA)
To calculate the average balance in accounts payable and accounts receivable we need to use the formulas for the cash cycle and the operating cycle Th... View the full answer
Related Book For
Essentials Of Corporate Finance
ISBN: 9780073405131
6th Edition
Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan
Posted Date:
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