1. Based only on the following information for Bennington Corp., did cash go up or down? By how much? Decrease in inventory $500 Decrease in accounts payable 180 Increase in notes payable 580 Increase in accounts receivable 240
2. A company has net income of $182,000, a profit margin of 9.90 percent, and an accounts receivable balance of $106,740. Assuming 62 percent of sales are on credit, what is the company's days' sales in receivables?