Calvani, Inc., has a cash cycle of 47 days, an operating cycle of 70 days, and an inventory period of 30.5 days. The company reported cost of goods sold in the amount of $349,000, and credit sales were $572,000.
Required: What is the company’s average balance in accounts payable and accounts receivable? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)
Average accounts payable $
Average accounts receivable $