E8-16 (Algo) Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4] QuickShip Corporation reported the following rounded amounts (in millions): 2019 2018 Accounts Receivable $ 5,375 $ 5,080 Allowance for Doubtful Accounts (275) (280) Accounts Receivable, Net of Allowance $ 5,100 $ 4,800 Net Sales (assume all on credit) $ 38,500 $ 37,000 Required: Determine the receivables turnover ratio and days to collect for 2019

E8-16 (Algo) Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4] QuickShip Corporation reported the following rounded amounts (in millions): 2019 2018 Accounts Receivable $ 5,375 $ 5,080 Allowance for Doubtful Accounts (275) (280) Accounts Receivable, Net of Allowance $ 5,100 $ 4,800 Net Sales (assume all on credit) $ 38,500 $ 37,000 Required: Determine the receivables turnover ratio and days to collect for 2019

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Data: So 101; X= 114; 1+r= 1.12. The two possibilities for sr are 143 and 85.
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Calculate: (1+)" m m where m=132, and r=0.102
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