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.
Answer & Explanation
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4.4 Ratings (874 Votes)
Average Collection Period Average Collection Period Average Accounts Receivables Credit Sales per day 6600 69002 96000 365 Days 13500 2 96000 365 Days
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