In 2015, XYZ Corp. had an annual cost of goods sold of $365 million. XYZ's average accounts receivable balance in 2015 was $35 million, and their average accounts payable balance was $10 million. The...

Extracted text: In 2015, XYZ Corp. had an annual cost of goods sold of $365 million. XYZ's average accounts receivable balance in 2015 was $35 million, and their average accounts payable balance was $10 million. The terms that XYZ receives on trade credit from its suppliers are 3/20, net 30. Is XYZ managing its accounts payable well? Why/why not? No, because they are paying their suppliers too late No, because they are paying their suppliers too early Yes, because they are strategically stretching their bills past the due date Yes, because they are paying their suppliers on the last day to get the discount