The following balance sheet information was provided by Western Company Assets Cash Accounts receivable Inventory Year 2 $ 4,000 15,000 $35,000 Year 1 $2,000 12,000 $38,000 Assuming Year 2 net credit sales totaled $270,000, what were the company's average days to collect receivables? (Use 365 days in a year. Do not round Intermediate calculations.) Multiple Choice C) 20.28 days 47:31 days Assuming Year 2 net credit sales totaled $270,000, what were the company's average days to collect receivables? (Use 365 days in a year. Do not round Intermediate calculations.) Multiple Choice o 20.28 days o 4731 d. o o 16 22 days Financial ratios can be used to assess which of the following aspects of a firm's performance? Profitability All of these answers are correct. Solvency Domino Company uses the aging of accounts receivable method to estimate uncollectible accounts expense. Domino began Year 2 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $46,890 and $3,710, respectively. During the year, the company wrote off $2.770 in uncollectible accounts. In preparation for the company's Year 2 estimate, Domino prepared the following aging schedule: Number of days Receivables past due amount Current $ 79,000 0-30 28,800 31-60 7,660 61-90 4,020 Over 90 3,700 Total $123, 180 % Likely to be uncollectible 1% 5% 10% 25% 50% What will Domino record as Uncollectible Accounts Expense for Year 2? Multiple Choice 0 $4,9 What will Domino record as Uncollectible Accounts Expense for Year 2? Multiple Choice o $4,911 o $2,141 o $5,851 o $270 Which of the following are considered to be an advantage of the corporate form of business organization? i. Easily transferable ownership rights ii. Continuous life jil. Ability to raise capital iv. Double taxation Multiple Choice ill. and lv. 0 I and II. 0 lii. and lv. I. and ill. I. and II. 1., il., and