Big Al's Meat Market has annual sales of $532,500 and cost of goods sold of $359,200....

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Big Als Meat Market has annual sales of $532,500 and cost of goods sold of $359,200. The profit margin is 4.9 percent and th

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Answer 1

Answer #1

To calculate average accounts payable balnce, we can use the below formula;

Accounts payable balance = (Account payable days / Number of days in a year) * cost of goods sold

= (32.6/365) * 359200

= 32081.97

Hence the correct option is the first one.

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Answer 2

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