ABC Company has annual sales of $400,000 and cost of goods sold of $159,496. The accounts payable period is 44.48 days. What is the average accounts payable balance?

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 44E: Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note:...
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ABC Company has annual sales of $400,000
and cost of goods sold of $159,496. The
accounts payable period is 44.48 days. What
is the average accounts payable balance?
Transcribed Image Text:ABC Company has annual sales of $400,000 and cost of goods sold of $159,496. The accounts payable period is 44.48 days. What is the average accounts payable balance?
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