LoDo, Inc. has sales of $642,000 and average accounts payable of $36,400. The cost of goods sold is equivalent to 65% of sales. How long does it take LoDo to pay its suppliers?
A) 11.46 days
B) 13.45 days
C) 20.69 days
D) 26.18 days
E) 31.84 days
Correct Answer:
Verified
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