Problem:
Calvani Inc has a cash cycle of 38.7 days, an operating cycle of 57.5 days, and an inventory period of 21.4 days. The company reported cost of goods sold in the amount of $430,000, and credit sales were $684,000.
Required:
Question: What is the company's average balance in accounts payable and accounts receivable?
Note: Be sure to show how you arrived at your answer.