P&E Shipping reported the following rounded amounts (in millions): 2019 $5,475 (325) $ 5,150 $ 41,500...

 

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P&E Shipping reported the following rounded amounts (in millions): 2019 $5,475 (325) $ 5,150 $ 41,500 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) Required: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 9.6? Complete this question by entering your answers in the tabs below. 2018 $ 5,180 (330) $ 4,850 $ 40,000 Required 1 Required 2 Determine the receivables turnover ratio and days to collect for 2019. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.) Receivables Turnover Ratio Days to Collect times days Complete this question by entering your answers in the tabs below. Required 1 Required 2 Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 9.6? Improvement Deterioration P&E Shipping reported the following rounded amounts (in millions): 2019 $5,475 (325) $ 5,150 $ 41,500 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) Required: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 9.6? Complete this question by entering your answers in the tabs below. 2018 $ 5,180 (330) $ 4,850 $ 40,000 Required 1 Required 2 Determine the receivables turnover ratio and days to collect for 2019. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.) Receivables Turnover Ratio Days to Collect times days Complete this question by entering your answers in the tabs below. Required 1 Required 2 Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 9.6? Improvement Deterioration

Answer rating: 100% (QA)

To calculate the receivables turnover ratio for 2019 we need to divide the net sales by the average accounts receivable The average accounts receivable can be calculated by adding the beginning and en... View the full answer