Question: Current Attempt in Progress Presented here is basic financial information (in millions) from the annual reports of Crane and Swifty. Crane Swifty Sales $20,400

Current Attempt in Progress Presented here is basic financial information (in millions)

Current Attempt in Progress Presented here is basic financial information (in millions) from the annual reports of Crane and Swifty. Crane Swifty Sales $20,400 $16,000 Allowance for doubtful accounts, Jan. 1 71.0 117 Allowance for doubtful accounts, Dec. 31 73.0 111 Accounts receivable balance (gross), Jan. 1 2,600.0 1,600 Accounts receivable balance (gross), Dec. 31 3,000.0 1,500 Calculate the accounts receivable turnover and average collection period for both companies. (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Accounts receivable turnover Average collection period eTextbook and Media Crane times days Swifty times days

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