Problemcalvani inc has a cash cycle of 387 days an, Ask an Expert

Accounting

Problem:

Calvani Inc has a cash cycle of 38.7 days, an operating cycle of 57.5 days, and an inventory period of 21.4 days. The company reported cost of goods sold in the amount of $430,000, and credit sales were $684,000.

Required:

Question: What is the company's average balance in accounts payable and accounts receivable?

Note: Be sure to show how you arrived at your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91167041

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