A company that reports Accounts Payable of $59,700 and Cost of Goods Sold of $614,400, calculated...
A company that reports Accounts Payable of $59,700 and Cost of Goods Sold of $614,400, calculated days’ payable outstanding of:
25.8 days
10.3 days
37.9 days
43.2 days
35.5 days
Homework Answers
Answer : 35.5 Days
Days Payables outstanding = ( Accounts Payables / Cost of Goods Sold ) *365 Days
Days payable Outstanding = (59700/614,400)* 3656 Days = 35.46 Days = 35.5 Days (Answer)
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