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PROBLEM H USE THE INFORMLTION BELOW TO ANSWER QUESTIONS 54,55,56 and 57 Assume that Plank Plumbing Supply Company has sales and purchases for January through

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PROBLEM H USE THE INFORMLTION BELOW TO ANSWER QUESTIONS 54,55,56 and 57 Assume that Plank Plumbing Supply Company has sales and purchases for January through June as per the table below: As we did for cash budgets cases in class, assume that there are 30 days in every month and that all sales and purchases are evenly distributed throughout each month. Record your answers for question 54,55, 56 and 57 as a dollar amotum rounded to zero (0) decimal places, but do not record a dollar sign or any commas. If your answer is negative (t.e., a loss), put a hyphen before your answer with no space between the - sign and the number. 54. If 100% of all of Plank Plumbing Supply Company's sales are made on credit and if Plank's average collection period is 48 days, what would Plank Plambing Supply Company report as Accounts Receivahle on its April 30 Balance Sheet? 55. If 100% of all of Plank Plumbing Supply Company's sales are made on credit and if Plank's average collection period is 48 days, what would Plank Plumbing Supply Company's collections of ereelit sales be for the month of April? 56. If Plank Plumbing Supply Company has an accounts payable days period of 23 days (and all of its payment accounts are current), what would Plank Plambing Supply Company report as Accounts Payable on its June 30 balance sheet? 57. If Plank Plumbing Supply Company has an accounts payable days period of 23 days (and all of its payment accounts are current). what would Plank Plumbing Supply Company's pavment for murchases be for the month of June

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