1. Calculations such as the average collection period for accounts receivable give us information about

- the number of days on average it takes to collect an accounts receivable balance

- the average receivable balance during the period. - the percentage of receivables that will eventually become uncollectible.

- the number of accounts that are passed due at the end of the period

2. the cost of a purchased building includes all of the following except:

- legal fees

- real estate brokers commission

- All of these are included

- remodeling costs