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Please Answer both questions UT During the current year, Carl Equipment Stores had...

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Accounting

Please Answer both questions

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UT During the current year, Carl Equipment Stores had net sales of $600 million, a cost of goods sold of $550 million, average accounts receivable of $70 million, and average inventory of $50 million. Assuming a 365-day year, the average number of days required for Carl Equipment to sell its inventory is: (Round your final answer to the nearest whole number.) eBook Multiple Choice 33 days. 46 days. o 30 days. o 332 days. 7 On April 30, Year 1, Tilton Products purchased machinery for $198,000. The useful life of this machinery is estimated at 8 years, with an $18,000 residual value. Tilton uses a calendar year-end for financial reporting. Assume that in its financial statements, Tilton Products uses straight-line depreciation and rounds depreciation for fractional years to the nearest month. Depreciation expense recognized on this machinery in Year 1 and Year 2 will be: eBook Multiple Choice $22,500 in Year 1 and $22,500 in Year 2. $12,000 in Year 1 and $22.500 in Year 2 $9,000 in Year 1 and $22,500 in Year 2 $15,000 in Year 1 and $22,500 in Year 2

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