Q1. The terms of the sale is 4/18, net 50. Buyer needs to make cash payment within ____ days.

Q2. XYZ Company has annual sales of $772067. The cost of goods sold are $397458. The firm has an accounts receivable balance of $8393, an accounts payable balance of $11496 and inventory of $38576.

What is the lengh of time between paying for materials and collecting on receivables?That is, what is the cash conversion cycle? Assume 365 days.

Q3.XYZ Company has annual sales of $534265. The cost of goods sold are $395743.The firm has an accounts receivable balance of $15342, an accounts payable balance of $6218 and inventory of $20322.

How many days on average does it take the firm to collect its accounts receivable? That is, what is the average collection period? Assume 365 days.

Q4.XYZ balance sheet lists $20,000 cash, $30,000 inventory, $39,000 account receivables, $27,000 account payable and $38,000 short-term debt. Calculate the current assets (= working capital).