Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. any help would be appreciated. hanse, inc., has a

Any help would be appreciated. Hanse, Inc., has a cash cycle of 43 days,...

90.2K

Verified Solution

Question

Accounting

image

Any help would be appreciated.

Hanse, Inc., has a cash cycle of 43 days, an operating cycle of 62 days, and an inventory period of 26.5 days. The company reported cost of goods sold in the amount of $341,000, and credit sales were $564,000. What is the company's average balance in accounts payable and accounts receivable? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Average accounts payable Average accounts receivable

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students