Below are amounts (in millions) from three companies' annual reports. Ending Accounts Receivable $2,662 WalCo TarMart CostGet Beginning Accounts Receivable $1,715 5,666 529 6,194 565 Net Sales $312,427 57,878 58,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is