Macroware Corporation reported the following information in its financial statements for three successive quarters ($ in...
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Macroware Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended 6/30/2020 (04) 3/31/2020 (03) 12/31/2019 (02) Balance Sheets: Accounts receivable, net Income statements: Sales revenue Required: $ 15,361 $ 19,805 $ 24,545 $ 23,325 $ 12,895 $ 22,110 Compute the receivables turnover ratio and the average collection period for Q4 and Q3. Assume that each quarter consists of 91 days. Note: Round "Receivables turnover ratio" answers to 3 decimal places and "Average collection period" answers to 2 decimal places. Receivables turnover ratio Q4 Receivables turnover ratio Q3 times times Average collection period Q4 days Average collection period Q3 days Macroware Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended 6/30/2020 (04) 3/31/2020 (03) 12/31/2019 (02) Balance Sheets: Accounts receivable, net Income statements: Sales revenue Required: $ 15,361 $ 19,805 $ 24,545 $ 23,325 $ 12,895 $ 22,110 Compute the receivables turnover ratio and the average collection period for Q4 and Q3. Assume that each quarter consists of 91 days. Note: Round "Receivables turnover ratio" answers to 3 decimal places and "Average collection period" answers to 2 decimal places. Receivables turnover ratio Q4 Receivables turnover ratio Q3 times times Average collection period Q4 days Average collection period Q3 days
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