Question: Presented here is basic financial information (in millions) from the annual reports of Crane and Bramble.. Crane Bramble Sales $24,200 $15,900 Allowance for doubtful
Presented here is basic financial information (in millions) from the annual reports of Crane and Bramble.. Crane Bramble Sales $24,200 $15,900 Allowance for doubtful accounts, Jan. 11 72.0 117 Allowance for doubtful accounts, Dec. 31 86.0 113 Accounts receivable balance (gross). Jan. 1 2.500.0 2,100 Accounts receivable balance (gross), Dec. 31 2,900.0 1,400 Calculate the accounts receivable turnover and average collection period for both companies. (Round answers to 1cecimal place, eg 15.2. Use 365 days for calculation.) Accounts receivable turnover Average collection period. Crane 7.48 times 48.8. days Bramble 1114 times 32.76 days
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