Consider the following financial statement information for the Hop Corporation: Item Beginning Ending Inventory $11,600 $12,600 Accounts receivable 6,600 6,900 Accounts payable 8,800 9,200 ...

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Finance

Consider the following financial statement information for theHop Corporation:
  Item     Beginning  Ending
  Inventory     $11,600  $12,600
  Accounts receivable   6,600    6,900
  Accounts payable   8,800    9,200
     Net sales  $96,000
     Cost of goods sold  76,000
Calculate the operating and cash cycles.

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Average Collection Period Average Collection Period Average Accounts Receivables Credit Sales per day 6600 69002 96000 365 Days 13500 2 96000 365 Days See Answer

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Consider the following financial statement information for the Hop Corporation: Item Beginning Ending Inventory $11,600 $12,600 Accounts receivable 6,600 6,900 Accounts payable 8,800 9,200 ...

80.2K

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Finance

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Consider the following financial statement information for the Hop Corporation: Item Beginning Ending Inventory $11,600 $12,600 Accounts receivable 6,600 6,900 Accounts payable 8,800 9,200 ...

80.2K

Verified Solution

Question

Finance

Consider the following financial statement information for theHop Corporation: Item Beginning Ending Inventory $11,600 $12,600 Accounts receivable 6,600 6,900 Accounts payable 8,800 9,200 Net sales $96,000 Cost of goods sold 76,000 Calculate the operating and cash cycles.

Answer & Explanation Solved by verified expert

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Consider the following financial statement information for theHop Corporation:
Item Beginning Ending
Inventory $11,600 $12,600
Accounts receivable 6,600 6,900
Accounts payable 8,800 9,200
Net sales $96,000
Cost of goods sold 76,000
Calculate the operating and cash cycles.