Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory $ 10,600 $ 11,600 Accounts receivable 5,600 5,900 Accounts payable 7,800 8,200 Net sales $ 86,000 Cost of goods sold 66,000 Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory $ 10,600 $ 11,600 Accounts receivable 5,600 5,900 Accounts payable 7,800 8,200 Net sales $ 86,000 Cost of goods sold 66,000 Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 8PB: The following select financial statement information from Vortex Computing. Compute the accounts...

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