Question: EXERCISE 7 . 9 Industry Characteristics and Collection Performance LO 7 - 8 The following information was taken from annual reports of Goodyear Tire &

EXERCISE 7.9 Industry Characteristics and Collection Performance LO7-8
The following information was taken from annual reports of Goodyear Tire & Rubber and PPL Corp., a public utility:
a. Compute for each company the accounts receivable turnover rate for the year.
b. Compute for each company the average number of days required to collect outstanding receivables (round answers to nearest whole
day).
c. Explain why the figures computed for Goodyear in parts a and b are so different from those computed for PPL.
EXERCISE 7 . 9 Industry Characteristics and

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