Joanna Handicrafts, Inc., has net sales of $3.95 million with 50 percent being credit sales. Its cost of goods sold is $2.37 million. The firm’s cash conversion cycle is 58.50 days, and its operating cycle is 97.5 days. What is the firm’s accounts payable? (Round intermediate calculations to 1 decimal place, e.g. 25.1 and final answer to nearest whole dollar, e.g. 5,275.)
The firm's accounts payable are $_____________