Given the Following Information,calculate the Payables Turnover and Days' Payable

question 82

Essay

Given the following information,calculate the payables turnover and days' payable.Round answers to two decimal places.
$$\begin{array} { l r } \text { Net sales } & \$ 10,000,000 \\\text { Cost of goods sold } & 8,321,000 \\\text { Operating expenses } & 3,000,000 \\\text { Inventory increase } & 125,000 \\\text { Accounts payable, beginning } & 1,617,000 \\\text { Accounts payable, ending } & 1,415,000\end{array}$$

a. Payables turnover
b. Days' payable

---

Definitions:

Bartolomé de Las Casas

A Dominican missionary and historian from the 16th century who championed the rights of the native peoples in the Americas.

History of the Indies

A historical account detailing the exploration, colonization, and cultural impact of the European powers on the Americas, Southeast Asia, and the islands of the Indian Ocean.

Native Americans

Refers to the indigenous peoples and cultures of North and South America before European colonization.

Spanish Missionaries

Religious missionaries from Spain who played a key role in the Catholic evangelization of the Americas.