Calculate the average collection period of football inc

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Problem 1: Football Inc. has annual Total Sales of $2,000,000 with Credit Sales of $1,620,000 and an Accounts Receivable balance of $157,500. Calculate the average collection period (using 360 days in the year).

Problem 2: Tennis Corp. has an average collection period of 50 days. The Accounts Receivable balance is $95,000. What is the value of credit Sales.

Problem 3: If Inventory is $300,000 in 2017 and projected to be $325,000 in 2018, is the increase in Inventory a Source or Use of Cash in 2018?

Problem 4: If Accounts Payable increases from $50,000 in 2017 to $60,000 in 2018, is the increase in Accounts Payable a Source or Use of Cash?

Reference no: EM132421314

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