Question: Presented here is basic financial information (in millions) from the annual reports of Blossom and Sunland. Blossom Sunland Sales $20,700 $14,000 Allowance for doubtful accounts,

 Presented here is basic financial information (in millions) from the annual

reports of Blossom and Sunland. Blossom Sunland Sales $20,700 $14,000 Allowance for

Presented here is basic financial information (in millions) from the annual reports of Blossom and Sunland. Blossom Sunland Sales $20,700 $14,000 Allowance for doubtful accounts, Jan. 1 79.0 112 Allowance for doubtful accounts, Dec. 31 79.0 112 Accounts receivable balance (gross).Jan. 1 2,500.0 2.100 Accounts receivable balance (gross), Dec. 31 2.900.0 1,500 Calculate the accounts receivable turnover and average collection period for both companies. (Round answers to 1 decimal place, eg. 15.2. Use 365 days for calculation.) Blossom Sunland Jall. 1 17.0 112 Allowance for doubtful accounts, Dec. 31 79.0 112 Accounts receivable balance (gross), Jan. 1 2,500.0 2,100 Accounts receivable balance (gross), Dec 31 2.900.0 1,500 Calculate the accounts receivable turnover and average collection period for both companies. (Round answers to 1 decimal place, eg. 15.2. Use 365 days for calculation.) Blossom Sunland Accounts receivable turnover times times Average collection period days days

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!