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Accounts Payable

Author: Client Uploads
May 7th, 2021

Using the information provided, what is the accounts payable cycle for the firm?Perfect Purchase ElectronicsSelected Income Statement Items, 2014Cash Sales $1,500,000Credit Sales $7,500,000Total Sales $9,000,000COGS $6,000,000Perfect Purchase ElectronicsSelected Balance Sheet Accounts12/31/2014 12/31/2013 ChangeAccounts Receivable $270,000 $240,000 $30,000Inventory $125,000 $100,000 $25,000Accounts Payable $110,000 $90,000 $20,000

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