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BUS 363 – You have collected the following information for the Jake’s Place.

Author:
January 11th, 2018

You have collected the following information for the Jake’s Place.Item Beginning EndingInventory $5,000 $7,000Accts. Receivable 1,600 2,400 Accts. Payable 2,700 4,800Credit sales for the year just ended were $50,000, and cost of goods sold was $30,000. a. How long does it take for Jake’s Place to collect on its receivables? b. How long does merchandise stay around before it is sold? c. How long does it take Jake’s Place to pay its bills?d. What is Jake’s Place operating cycle?e. What is Jake’s Place cash cycle?

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