(Accounts receivable turnover) The financial data for Vintage Furniture Inc. and Victoria Foodland Ltd. for the...

 

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(Accounts receivable turnover) The financial data for Vintage Furniture Inc. and Victoria Foodland Ltd. for the current year are as follows (amounts in thousands): Vintage Furniture Victoria Foodland Annual Sales $84,588 41,895 Accounts Receivable Jan. 1 $6,700 1,200 Accounts Receivable Dec. 31 $9,260 1,740 Calculate the accounts receivable turnover for each company assuming that all sales are on account. (Round answers to 1 decimal place, e.g. 18.4.) Accounts receivable turnover Vintage Furniture times Victoria Foodland times Calculate the average number of days required by each company to collect its receivables. (Round answers to 1 decimal place, eg. 18.4.) Days to Collect eTextbook and Media Vintage Furniture days Victoria Foodland days Which company appears to be more efficient at handling its accounts receivable? appears to be more efficient at handling its accounts receivable. (Accounts receivable turnover) The financial data for Vintage Furniture Inc. and Victoria Foodland Ltd. for the current year are as follows (amounts in thousands): Vintage Furniture Victoria Foodland Annual Sales $84,588 41,895 Accounts Receivable Jan. 1 $6,700 1,200 Accounts Receivable Dec. 31 $9,260 1,740 Calculate the accounts receivable turnover for each company assuming that all sales are on account. (Round answers to 1 decimal place, e.g. 18.4.) Accounts receivable turnover Vintage Furniture times Victoria Foodland times Calculate the average number of days required by each company to collect its receivables. (Round answers to 1 decimal place, eg. 18.4.) Days to Collect eTextbook and Media Vintage Furniture days Victoria Foodland days Which company appears to be more efficient at handling its accounts receivable? appears to be more efficient at handling its accounts receivable.

Answer rating: 100% (QA)

1 To calculate Account Receivable Turnover Credit sales Average Net Receivable Vintage F... View the full answer