Using the following data, compute number of days purchases in accounts payable. Accounts payable, December 31, year

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Using the following data, compute number of days’ purchases in accounts payable.

Accounts payable, December 31, year 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 52,000

Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 358,000

Accounts payable, January 1, year 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,000

Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 364,000

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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Question Posted: Dec 30, 2011 04:41 AM

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Using the following data, compute number of days purchases in accounts payable. Accounts payable, December 31, year

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Accounting concepts and applications

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