Question: Please answer all questtions and I will Leave a THUMBS UP. Thanks 1. ABC Company has a cash cycle of 11.21 days, an operating cycle

Please answer all questtions and I will Leave a THUMBS UP. Thanks

1. ABC Company has a cash cycle of 11.21 days, an operating cycle of 22.94 days, and an average collection period of 7 days. The company reported cost of goods sold of $241676. What is the company's average balance in Accounts Payable?

Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box

2. The terms of the sale were 4/6, net 48. What is the effective annual rate of interest?

Enter your answer in percentages rounded off to two decimal points. Do not enter % in the answer box.

3. On July 15th, you purchased $10,000 worth of goods. The terms of the sale were 1/8, net 49. What is the effective annual rate of interest for the credit period for this sale?

Enter your answer in percentages rounded off to two decimal points. Do not enter % in the answer box.

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