The following information relates to LoGo Corporation.
Accounts payable $650,000
Credit purchases $21,000,000
Assuming there are 360 days in a year, the payables deferral period for the company is:?
A. ?21.45 days.
B. ?11.14 days.
C. ?18.56 days.
D. ?25.42 days.
E. ?15.89 days.
Answer: B
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