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How long does it take QuickPay to collect its receivables

    Assignment Instructions

    Assignment ID: FG133135916

    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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