Section 3 (20 Marks) Show Your Work (13 Marks) Based on the following information complete the chart below Jan 1 st Dec 31st Accounts Receivable $30,000 $100,000 Accounts Payable 20,000 70,000 Credit Sales 800,000 Cost of Goods Sold 350,000 Inventory 110,000 170,000 Calculate Show work here Final Answer A R Period A P Period Inventory Period Operating Cycle Cash Cycle (4 Marks) Briefly describe how the operating and cash cycles for Tim Hortons may be different to Toyotas (3 Marks) Your company plans to implement a system whereby customers who pay their bills on time will receive a 10 discount and those who pay earlier will receive a 15 discount How could this change in policy affect your company

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Question: Section 3 - (20 Marks) Show Your Work (13 Marks) Based on the following information complete the chart below. Jan 1 st Dec 31st Accounts

Section 3 - (20 Marks) Show Your Work

(13 Marks) Based on the following information complete the chart below.

	Jan 1^st	Dec 31st
Accounts Receivable	$30,000	$100,000
Accounts Payable	20,000	70,000
Credit Sales	800,000
Cost of Goods Sold	350,000
Inventory	110,000	170,000

Calculate	Show work here	Final Answer
A/R Period
A/P Period
Inventory Period
Operating Cycle
Cash Cycle

(4 Marks) Briefly describe how the operating and cash cycles for Tim Hortons may be different to Toyotas?

(3 Marks) Your company plans to implement a system whereby customers who pay their bills on time will receive a 10% discount and those who pay earlier will receive a 15% discount. How could this change in policy affect your company?

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