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Hanse, Inc., has a cash cycle of 38.5 days, an operating cycle of 62.4 days, and...

Hanse, Inc., has a cash cycle of 38.5 days, an operating cycle of 62.4 days, and an Inventory period of 24.4 days. The compan

Hanse, Inc., has a cash cycle of 38.5 days, an operating cycle of 62.4 days, and an Inventory period of 24.4 days. The company reported cost of goods sold in the amount of $445,000, and credit sales were $724,000. What is the company's average balance in accounts payable and accounts receivable? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Average accounts payable Average accounts receivable
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Answer #1

Average payment period = operating cycle - cash cycle = 33.90 [62.4-28.5] Accounts payable = average payment period*cost of g

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