Answer: 69 days(approx.)
Step-by-step explanation:
Given that,
Cost of goods sold = $45,121
Accounts payable balance = $8,493
Creditor Turnover ratio:
=

=

= 5.312 times in a year
To convert into 365 days
=

= 68.71 days
Conclusion: the company needs to take average time for pay off its creditors is 69 days(approx.).