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Problem:

Calvani, Inc., has a cash cycle of 40.5 days, an operating cycle of 57 days, and an inventory period of 24 days. The company reported cost of goods sold in the amount of $353,000, and credit sales were $576,000.

Required:

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

Note: Explain the solution in detail.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91174817

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