The following selected account balances were taken from


The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2019 and December 31, 2019:

 

1-Jan-19

31-Dec-19

Accounts receivable

42,000

34,000

Inventory

57,000

71,000

The following information was taken from Buckeye Company's 2019 income statement:

Sales revenue

$693,500

Cost of goods sold

467,200

Salaries expense

135,900

Gain on sale of land

2,000

Net income

$92,400

Calculate Buckeye Company's 2019 operating cycle. Enter your answer as a number (i.e., 94).

Do not use decimals or a $ in your answer. Additionally, do not type the word days after your answer.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: The following selected account balances were taken from
Reference No:- TGS01294696

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)