FIN 5001 – ABC Company has a cash cycle of 12.62 days, an operating cycle

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June 7th, 2024

ABC Company has a cash cycle of 12.62 days, an operating cycle of 19.02 days, and an average collection period of 4 days. The company reported cost of goods sold of $266,677. What is the company’s average balance in Accounts Payable?Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box

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