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The following information is available for Cheshire, Inc: Cost of Goods Sold 12/31/18 Accounts Receivable 12/31/17 Accounts Receivable 12/31/18 Accounts Payable 12/31/17 Accounts Payable 12/31/18 $65,700 $45,000 $40,000 $22,000 $32,000 The Accounts Payable Payment Period is O A. 90 days. B. 1.6 days. O C. 180 days. O D. 150 days.

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cost of goods sold opening accounts receivable closing accounts receivable opening accounts payable closing accounts payable $65,700 S45,000 $ 40,000 S22,000 $ 32,000 accounts payable turnover ratio - cost of goods sold/ average accounts payable average accounts payable- $ 27,000 $22,000$32,000)/2 accounts payable turnover ratio$65,700 / $27,000 accounts payable turnover ratio- 2.433 accounts payable payment period365/ accounts payable turnover ratio accounts payable payment period 365/2.433 accounts payable payment period- 150 hence, the correct answer is D) 150 days

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