Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts Receivable walco TarMart costGet $1, 805 6,116 619 $2,752 6, 644 655 Net Sales $321, 427 66, 878 67, 963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. 2. Which company appears most efficient in collecting cash from sales? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Which company appears most efficient in collecting cash from sales? Most efficient in collecting cash from sales < Required 1 Required 2 >

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Q: how to prepare journal entries

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Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.