Average balance in accounts payable-accounts receivable

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Reference no: EM131564012

Calvani, Inc., has a cash cycle of 38.5 days, an operating cycle of 53 days, and an inventory period of 22 days. The company reported cost of goods sold in the amount of $357,000, and credit sales were $580,000.

What is the company’s average balance in accounts payable and accounts receivable? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Average accounts payable $

Average accounts receivable $

Reference no: EM131564012

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