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Kinston Industries Has an Average Accounts Payable Balance of $220,000

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Essay

Kinston Industries has an average accounts payable balance of $220,000.Its annual cost of goods sold is $5,475,000,and it receives terms of 2/10,net 30 from its suppliers.Kinston chooses to forgo this discount.Is Kinston managing its accounts payable well?


Definitions:

Grocery Purchases

Transactions involving the buying of food and household goods from a supermarket or grocery store.

Federal Level

Relating to or denoting the central government as distinguished from the separate units constituting a federation.

Transfer Program

A government initiative designed to redistribute income through the transfer of money from one group to another.

Temporary Assistance

Short-term aid or support provided by governments or organizations to individuals or families in need.

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