If you’re a non-VAT registered business, the process is simpler. First, compute your gross sales, then deduct allowable deductions, such as the cost of goods sold, salaries, wages, rentals, utilities, and other operating expenses. Finally, subtract the allowable deductions from the gross sale...
Payables deferral period = (365 days * Accounts payable) / Cost of goods sold Payables...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer...