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 from sales?

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Financial Accounting

ISBN: 9780078110825

2nd Edition

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

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Question Posted: Jan 16, 2017 10:17 AM

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

Question:

Beginning Accounts Receivable (net) $1,715 $5,666 $ 529 Ending Accounts Receivable (net) $2,662 $6,194 $ 565 Net Sales $312,427 $ 57,878 $ 58,963 Walmart Target Costco Wholesale

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WalMart Target Costco Receivables turnover ratio Net Sales 312427 57878 58963 Av...View the full answer

Financial Accounting

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