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Question 1: Koplan & Company reports the following data relative to its accounts receivable: ...

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Accounting

Question 1: Koplan & Company reports the following data relative to its accounts receivable:
20202019
Average Accounts Receivable $400,000 $420,000
Net Credit Sales $2,800,000 $3,100,000
Compute the accounts receivable turnover and the collection period when the terms of sale are net 30 days. Question 2: Ben Company's net accounts receivables were $250,000 on 31 Dec 2021 and $300,000 on 31 Dec 2022. Net cash sales for 2022 were $100,000. The accounts receivable turnover for 2022 was 5.0. What was Ben Companys total net sales for 2022?
Question 3: Moonlight Corporation's opening inventory as of 1 Jan 2022 was $500,000. During 2022, the company purchased $1,800,000 of additional inventory. On 31 Dec 2022, the ending inventory was $400,000.
1. What is the inventory turnover and the age of inventory for 2022?
2. If the inventory turnover in 2021 was 3.5 and the age of the inventory was 100 days, evaluate the results for the year 2022.

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