Question: 6. Assume Procter & Gamble (PG) and Colgate-Palmolive (CL) report the following sales and accounts receivable balances ($ millions). Proctor & Gamble Colgate-Palmolive Sales Accounts

6. Assume Procter & Gamble (PG) and Colgate-Palmolive (CL) report the

6. Assume Procter & Gamble (PG) and Colgate-Palmolive (CL) report the following sales and accounts receivable balances ($ millions). Proctor & Gamble Colgate-Palmolive Sales Accounts Receivable Sales 2015 2016 $51,407 56,741 $4,062 4,185 $10,584 11,397 Accounts Receivable $1,320 1,309 Compute the 2016 accounts receivable turnover for both companies. a. PG: 13.56 b. PG: 13.11 C. PG: 13.76 d. PG: 15.31 CL: 8.71 CL: 8.35 CL: 8.67 CL: 9.02

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