Locklear Toymaking and Oxendine Corporation are two of the largest and most successful toymakers in the...

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Locklear Toymaking and Oxendine Corporation are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Locklear Oxendine Fiscal Year Ended: 2018 2017 2016 2018 2017 2016 Net Sales $ 4,356 $ 3,831 $ 4,518 $2,502 $ 2,468 $ 2,622 Accounts Receivable 1,098 704 830 922 1,002 574 Allowance for Doubtful Accounts 15 18 19 24 26 25 Accounts Receivable, Net of Allowance 1,083 686 811 898 976 549 Required: 1. Calculate the receivables turnover ratios and days to collect for Locklear and Oxendine for 2018 and 2017. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in 2017? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Calculate the receivables turnover ratios and days to collect for Locklear and Oxendine for 2018 and 2017. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. (Use 365 days in a year. Do not round intermediate calculations on Accounts Receivable Turnover Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) Show less A 2018 2017 Locklear Oxendine Locklear Oxendine Receivables Turnover Ratio Days to Collect < Req 1 Req 2A > Locklear Toymaking and Oxendine Corporation are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Locklear Oxendine Fiscal Year Ended: 2018 2017 2016 2018 2017 2016 Net Sales $ 4,356 $ 3,831 $ 4,518 $2,502 $ 2,468 $ 2,622 Accounts Receivable 1,098 704 830 922 1,002 574 Allowance for Doubtful Accounts 15 18 19 24 26 25 Accounts Receivable, Net of Allowance 1,083 686 811 898 976 549 Required: 1. Calculate the receivables turnover ratios and days to collect for Locklear and Oxendine for 2018 and 2017. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in 2017? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Calculate the receivables turnover ratios and days to collect for Locklear and Oxendine for 2018 and 2017. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. (Use 365 days in a year. Do not round intermediate calculations on Accounts Receivable Turnover Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) Show less A 2018 2017 Locklear Oxendine Locklear Oxendine Receivables Turnover Ratio Days to Collect < Req 1 Req 2A >

Answer rating: 100% (QA)

1 2018 2017 Locklear Oxendine Locklear Oxendine 435610836862 S2502S8989... View the full answer