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Home Q & A Board Other Fields Homework Help Business Accounting
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safezone safezone
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7 years ago
The following information is reported by Acme Corporation.

Cost of goods sold   $350,000
Average inventory balance   35,000
Average accounts receivable balance   65,000
Sales (all on account)   325,000
Average accounts payable balance   45,000
Operating expenses (excluding depreciation)   500,000
Purchases   40,000

What is Acme Corporation's average operating cycle as a percentage of the year?
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Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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That's not philosophy, it's geometry
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strwbrrystrwbrry
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More solutions for this book are available here
1
Every man, wherever he goes, is encompassed by a cloud of comforting convictions, which move with him like flies on a summer day.
   --Bertrand Russell, 1950

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safezone Author
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7 years ago
Smart ... Thanks!
7.prime7105
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Yesterday
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courtneyrmcd
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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