Macroware Corporation reported the following information in its financial statements for three successive quarters (S in millions Three Months Ended 3/31/2020 (03) 12/31/2019 (02) $ 19,800 $ 12,890 $ 23,320 $ 22,100 Balance Sheets: Accounts receivable, net Income statements: Sales revenue Required: Compute the receivables turnover ratio and the average collection period for Q4 and Q3. Assume that each quarter consists of 91 days. Note: Round "Receivables turnovet ratio" answers to 3 decimal places and "Average collection period" answers to 2 decimal places. Receivables turnover ratio Q4 Receivables turnover ratio Q3 6/30/2020 (04) $ 14,961 $ 24,540 Average collection period Q4 Average collection period Q3 times times days days

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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