Apple Computer, Inc., designs, manufactures, and markets personal computers and related personal computing and communicating solutions for
Question:
Assume that the accounts receivable (in millions) were $1,637 at the beginning of fiscal year 2008.
1. Compute the accounts receivable turnover for 2009 and 2008. Round to one decimal place.
2. Compute the days sales in receivables at the end of 2009 and 2008. Round to one decimal place.
3. What conclusions can be drawn from (1) and (2) regarding Apples efficiency in collectingreceivables?
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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