Average balance in accounts payable and accounts receivable

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Reference no: EM131918738

Calvani, Inc., has a cash cycle of 38.7 days, an operating cycle of 57.5 days, and an inventory period of 21.4 days. The company reported cost of goods sold in the amount of $430,000, and credit sales were $684,000.

Required:

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

Average accounts payable $

Average accounts receivable $

Reference no: EM131918738

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