Below are amounts (in millions) from three companies annual reports. Required: For each company, calculate the receivables

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Below are amounts (in millions) from three companies€™ annual reports.

Required:
For each company, calculate the receivables turnover ratio and the average collection period (rounded to one decimal place). Which company appears most efficient in collecting cash fromsales?

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Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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Question Posted: Jul 15, 2014 03:46 AM

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Below are amounts (in millions) from three companies annual reports. Required: For each company, calculate the receivables

Question:

WalCo TarMart CostGet Beginning Accounts Receivable (net) $1,815 $6,166 $ 629 Ending Accounts Receivable (net) $2,762 $6,694 $ 665 Net Sales $322,427 67,878 S 68,963

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WalCo TarMart CostGet Receivables turnover ratio Net sales 322427 67878 689...View the full answer

Financial Accounting

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