A Firm Has an Average Accounts Payable Balance of $180,000

question 83

Multiple Choice

A firm has an average accounts payable balance of $180,000. Its average daily cost of goods sold is $12,000. What is the average number of days that the firm takes to pay its debt?

• A) 2 days
• B) 8 days
• C) 15 days
• D) 21 days

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