(Accounts receivable turnover) The financial data for Vintage Furniture Inc. and Victoria Foodland Ltd. for the current year are as follows (amounts in thousands): Vintage Furniture Victoria Foodland Annual Sales $84,872 41,964 Accounts Receivable Jan. 1 $6,200 1,280 Accounts Receivable Dec. 31 $10,280 1,840
(Accounts receivable turnover) The financial data for Vintage Furniture Inc. and Victoria Foodland Ltd. for the current year are as follows (amounts in thousands): Vintage Furniture Victoria Foodland Annual Sales $84,872 41,964 Accounts Receivable Jan. 1 $6,200 1,280 Accounts Receivable Dec. 31 $10,280 1,840
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![(Accounts receivable turnover)
The financial data for Vintage Furniture Inc. and Victoria Foodland Ltd. for the current year are as follows (amounts in thousands):
Vintage Furniture
Victoria Foodland
Annual Sales
$84,872
41,964
Accounts
Receivable Jan. 1
$6,200
1,280
Accounts
Receivable Dec. 31
$10,280
1,840](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1e9c3dfb-2396-480a-9636-f992e16788d7%2F18f12eea-755c-4374-9501-f624b6b3f754%2Fdwex1cu_processed.png&w=3840&q=75)
Transcribed Image Text:(Accounts receivable turnover)
The financial data for Vintage Furniture Inc. and Victoria Foodland Ltd. for the current year are as follows (amounts in thousands):
Vintage Furniture
Victoria Foodland
Annual Sales
$84,872
41,964
Accounts
Receivable Jan. 1
$6,200
1,280
Accounts
Receivable Dec. 31
$10,280
1,840
![Calculate the accounts receivable turnover for each company assuming that all sales are on account. (Round answers to 1 decimal
place, e.g. 18.4.)
Accounts receivable turnover
eTextbook and Media
Vintage Furniture
Days to Collect
eTextbook and Media
Show Transcribed Text
J
Vintage Furniture
times
Calculate the average number of days required by each company to collect its receivables. (Round answers to 1 decimal place, e.g.
18.4.)
days
Victoria Foodland
Victoria Foodland
Which company appears to be more efficient at handling its accounts receivable?
times
days
appears to be more efficient at handling its accounts receivable.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1e9c3dfb-2396-480a-9636-f992e16788d7%2F18f12eea-755c-4374-9501-f624b6b3f754%2Foeblso5_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Calculate the accounts receivable turnover for each company assuming that all sales are on account. (Round answers to 1 decimal
place, e.g. 18.4.)
Accounts receivable turnover
eTextbook and Media
Vintage Furniture
Days to Collect
eTextbook and Media
Show Transcribed Text
J
Vintage Furniture
times
Calculate the average number of days required by each company to collect its receivables. (Round answers to 1 decimal place, e.g.
18.4.)
days
Victoria Foodland
Victoria Foodland
Which company appears to be more efficient at handling its accounts receivable?
times
days
appears to be more efficient at handling its accounts receivable.
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