A recent annual report for Adobe Incorporated contained the following data: (dollars in thousands) Previous Year...

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A recent annual report for Adobe Incorporated contained the following data: (dollars in thousands) Previous Year Accounts receivable Less: Allowances Net accounts receivable Net sales (assume all on credit) Required: Current Year $ 1,594,459 8,750 $ 1,585,709 $ 11,191,297 $ 1,380,559 13,681 $ 1,366,878 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. Note: Use 365 days a year. Enter your answers in thousands not in dollars. Receivables Turnover Ratio Numerator Denominator Net sales Average net trade accounts receivable Numerator Denominator Average Days Sales in Receivables 365 Receivables turnover $ 11,191,297 8.19 times $ 1,366,878 0 days A recent annual report for Adobe Incorporated contained the following data: (dollars in thousands) Previous Year Accounts receivable Less: Allowances Net accounts receivable Net sales (assume all on credit) Required: Current Year $ 1,594,459 8,750 $ 1,585,709 $ 11,191,297 $ 1,380,559 13,681 $ 1,366,878 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. Note: Use 365 days a year. Enter your answers in thousands not in dollars. Receivables Turnover Ratio Numerator Denominator Net sales Average net trade accounts receivable Numerator Denominator Average Days Sales in Receivables 365 Receivables turnover $ 11,191,297 8.19 times $ 1,366,878 0 days

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