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Dear Tutor ,
What is the account payable payment period for 31 December 2003?
Cost of sale: $32500
Opening Inventory: $6000
Closing Inventory: $3800
Trades account payable at 31 December 2003: $4750You will have seen my comment to your other post.
I am not here simply to provide answers to questions that you have found in a book. I am here to help you with problems you have, but you have not said what your problem is.Have you watched the free lectures on double entry?
The answer is 4750/30300 x 365 = 57.2 days
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