Question: Exercise 7-30 (Algo) Ratio analysis; Macroware [LO7-9] Macroware Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three

Exercise 7-30 (Algo) Ratio analysis; Macroware [LO7-9] Macroware Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended 6/30/2020 (Q4) 3/31/2020 (Q3) 12/31/2019 (Q2) Balance Sheets: Accounts receivable, net $ 17,761 $ 19,835 $ 12,925 Income statements: Sales revenue $ 24,575 $ 23,355 $ 22,170 Required: Compute the receivables turnover ratio and the average collection period for Q4 and Q3. Assume that each quarter consists of 91 days

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