Your Accountant Suspects a Mistake in the Computation of the Payables

question 1

Multiple Choice

Your accountant suspects a mistake in the computation of the payables period,which has been reported at 54.75 days.Calculate the correct payables period,given the following: annual sales = $1,200,000,annual cost of goods sold = $700,000,average accounts payable = $105,000.

• A) 31.94 days
• B) 54.75 days
• C) 179.58 days
• D) 212.92 days

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