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If the dates in a range are:
December2014,12th13th18th22nd and23rd
Then
[(2014/12/13 less2014/12) + (2014/12/18 less2014/12/13) ........ so on.....)]
divided by 4
thus:
= (1 DAY +5 DAY +4 DAY +1 DAY ) /4
=2.75 DAY
Total supplier purchases ---------------------------------------
[ (Beginning accounts payable + Ending accounts payable)] /2
The Average Days to Pay = (*Current ADTP x Number of Paid Invoices) + Number of Days to Pay Invoice Just Paid __________________________________ Number of Paid Invoices +1 *The 'Current ADTP' is the last Average Days to Pay found in the ledger.
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