Question: calculate using 360 day year. Please answer 1. A+ Airplanes normally sells $125,000 of its product on credit each day, and it takes an average

calculate using 360 day year.

Please answer 1. A+ Airplanes normally sells $125,000 of its product on credit each day, and it takes an average of 40 days to collect the credit sales. (a) What is the average accounts receivable that is reported on At's balance sheet? (b) What is the company's account receivable turnover? 2. The average inventory shown on Drip Fixer Plumbing's balance sheet is $270,000. The inventory conversion period is 9 days. (a) What is the inventory tumover? (b) What amount of inventory does Drip-Fixer normally purchase each day

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