McGriff Dog Food Company normally takes 24 days to pay for average daily credit purchases of...

McGriff Dog Food Company normally takes 24 days to pay for average daily credit purchases of $9,950. Its average daily sales are $10,060, and it collects accounts in 32 days. a. What is its net credit position?

b-1. If the firm extends its average payment period from 24 days to 40 days (and all else remains the same), what is the firm's new net credit position? (Negative amount should be indicated by a minus sign.)

b-2. Has the firm improved its cash flow? Yes No

Expert Solution

jeff jeffy answered 10 months ago

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