1. (TCO 2) Select any actions that decrease the cash account. Select all that apply: (Points: 3), Goods are sold on credit , An interest payment on a notes payable is made , The electric bill is paid , Dividends are paid to shareholders ,,, 2. (TCO 2) Which one of the following actions will decrease the operating cycle? (Points: 3), eliminating all inventory items that are slow sellers , delaying payments to suppliers , paying suppliers faster , increasing the amount of inventory on the shelves , granting customers more time to pay for their credit purchases ,,,3. (TCO 2) Assume Green Leaf Nursery anticipated sales of $500 in this quarter. Accounts receivable at the beginning of the quarter was $300. Assuming a collection period of 30 days, which is the approximate cash collections amount for the quarter? (Points: 3), $550 , $630 , $250 , $170 , None of the above ,,,4. (TCO 2) Which one of the following practices will reduce a firm’s collection float? (Points: 3), utilizing zero-balance accounts , depositing checks weekly rather than daily , requiring all customers pay by check rather than with cash , installing a lockbox system , paying all bills five days sooner ,,
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