Organic Foods,Inc.has a cash cycle of 13.5 days,an operating cycle of 21 days,and an inventory period of 2 days.The company reported cost of goods sold in the amount of $280,000,and credit sales were $430,000.What is the company's average balance in accounts payable?
A) $5,753
B) $8,414
C) $10,203
D) $11,844
E) $13,515
Correct Answer:
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