Question: please answer all the question Use the following information to answer Questions 7-10. ABC, Inc. has credit sales of $828,000, average accounts receivable of $64,100
Use the following information to answer Questions 7-10. ABC, Inc. has credit sales of $828,000, average accounts receivable of $64,100 and average accounts payable of $72,700. The inventory book value is $75,000. The cost of goods sold is equivalent to 68 percent of sales. 7. (2 points) How long does it take for ABC, Inc. to pay its suppliers (Payables Period)? Round to the nearest 0.01 . 8. (2 points) Compute the firm's operating cycle. Round to the nearest 0.01 . 9. (2 points) Compute the firm's cash cycle. Round to the nearest 0.01 . 10. ( 2 points) What are some things the firm can do to speed up (shorten) its cash cycle? Explain your response in complete sentences
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