JenCo reported the following information in its financial statements for three successive quarters during the 2021...

 

 

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JenCo reported the following information in its financial statements for three successive quarters during the 2021 fiscal year ($ in millions): Balance sheets: Three Months Ended 2021/05/01 (Q3) 2021/01/24 (Q2) 2020/10/25 (Q1) Accounts receivable, net $2,670 Income statements: Sales revenue $5,660 $1,975 $5,295 $1,288 $5,104 Assuming that each quarter consists of 91 days answer the following questions. (a) Compute the receivables turnover ratio for the second quarter. Please make sure your final answer is accurate to 2 decimal places. Receivables turnover ratio = (b) Compute the days' sales uncollected for the second quarter. Please make sure your final answer is accurate to the nearest whole number. Days' sales uncollected = days (c) Compute the receivables turnover ratio for the third quarter. Please make sure your final answer is accurate to 2 decimal places. Receivables turnover ratio = (d) Compute the days' sales uncollected for the third quarter. Please make sure your final answer is accurate to the nearest whole number. Days' sales uncollected = days (e) Is the change in days' sales uncollected favourable or unfavourable? The change in the ratio is (select one) . SUBMIT AND MARK SAVE AND CLOSE JenCo reported the following information in its financial statements for three successive quarters during the 2021 fiscal year ($ in millions): Balance sheets: Three Months Ended 2021/05/01 (Q3) 2021/01/24 (Q2) 2020/10/25 (Q1) Accounts receivable, net $2,670 Income statements: Sales revenue $5,660 $1,975 $5,295 $1,288 $5,104 Assuming that each quarter consists of 91 days answer the following questions. (a) Compute the receivables turnover ratio for the second quarter. Please make sure your final answer is accurate to 2 decimal places. Receivables turnover ratio = (b) Compute the days' sales uncollected for the second quarter. Please make sure your final answer is accurate to the nearest whole number. Days' sales uncollected = days (c) Compute the receivables turnover ratio for the third quarter. Please make sure your final answer is accurate to 2 decimal places. Receivables turnover ratio = (d) Compute the days' sales uncollected for the third quarter. Please make sure your final answer is accurate to the nearest whole number. Days' sales uncollected = days (e) Is the change in days' sales uncollected favourable or unfavourable? The change in the ratio is (select one) . SUBMIT AND MARK SAVE AND CLOSE

Answer rating: 100% (QA)

a Receivables turnover ratio for the second quarter Sales revenue for Q2 5295 million Accounts re... View the full answer