FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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With the following information, answer the following questions using the specified format (For example 40 days).

This year, a business bought $10,000,000 worth of products from its suppliers.  Its trade payables shown on the statement of financial position (balance sheet) is $1,000,000.  During the following year, the company expects to buy $12,000,000 worth of products from its suppliers and estimate its trade payables to increase by $300,000.

Next year's average payment period is expected to be ______.

 
 
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