Reference no: EM133135916
Question - You have collected the following information for QuickPay Corp. in for last year.
Inventory: Beginning = 50,000, Ending = 70,000
Accounts Receivable: Beginning = 16,000, Ending = 24,000
Accounts Payable: Beginning = 27,000, Ending = 48,000
Net sales = 1,150,000
Cost of Goods sold = 820,000
Required -
1. How long does it take QuickPay to collect its receivables? How long does merchandise stay around before it is sold? How long does QuickPay take to pay its bills?
2. How long is QuickPay's operating cycle? What about the cash cycle?
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