Apple Inc. designs, manufactures, and markets personal computers and related personal computing and communicating solutions for sale
Question:
Assume that the accounts receivable (in millions) were $2,422 at the beginning of fiscal Year 1.
1. Compute the accounts receivable turnover for Year 2 and Year 1. Round to one decimal place.
2. Compute the days' sales in receivables at the end of Year 2 and Year 1. Round to one decimal place.
3. What conclusions can be drawn from (1) and (2) regarding Apple's efficiency in collectingreceivables?
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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