Please do questions 11,12,13

11. The manana Corporation has sales of $60 million this year. Its account receivable balance averaged $2 million. How long,on average, does it take the firm to collect on its sales?

Working Capital Management 12. The Mighty Power Tool Company has the following accounts on its books: Age (days) 35 Customer ABC DEF GHI KLM NOP QRS TUV WXY Amount Owed (S) 50,000 35,000 15,000 75,000 42,000 18,000 82,000 36,000 10 40 12 53 90 The firm extends credit on terms of 1/15, net 30. Develop an aging schedule using 15-day increments through 60 days, and then indicate any accounts that have been outstanding for more than 60 days. Payables Management 13. Simple Simon's Bakery purchases supplies on terms of 1/10, net 25. If Simple Simon's es to take the discount offered, it must obtain a bank loan to meet its short-term local bank has quoted Simple Simon's owner an interest rate of choos financing needs. A 12% on borrowedfunds. Should Simple Simon's enter the loan agreement with the bank and begin taking the discount