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Maple Leaf Foods Inc. reported the following selected information (in thousands) for the three years ended December 31, 2018, 2017, and 2016:     2018   2017   2016 Trade receivables (gross)   $109,945   $90,862   $90,463 Allowance for doubtful accounts   1,305   5   5 Sales   3,495,519   3,522,226   3,331,812 (a)     Calculate Maple Leaf’s receivables turnover and average collection period for 2018 and 2017. (Round answers to 1 decimal place, e.g. 52.5.)     2018   2017 Receivables turnover   enter number of times rounded to 1 decimal place times   enter number of times rounded to 1 decimal place times Average collection period   enter days rounded to 1 decimal place days   enter days rounded to 1 decimal place days

Maple Leaf Foods Inc. reported the following selected information (in thousands) for the three years ended December 31, 2018, 2017, and 2016:     2018   2017   2016 Trade receivables (gross)   $109,945   $90,862   $90,463 Allowance for doubtful accounts   1,305   5   5 Sales   3,495,519   3,522,226   3,331,812 (a)     Calculate Maple Leaf’s receivables turnover and average collection period for 2018 and 2017. (Round answers to 1 decimal place, e.g. 52.5.)     2018   2017 Receivables turnover   enter number of times rounded to 1 decimal place times   enter number of times rounded to 1 decimal place times Average collection period   enter days rounded to 1 decimal place days   enter days rounded to 1 decimal place days

FINANCIAL ACCOUNTING
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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Maple Leaf Foods Inc. reported the following selected information (in thousands) for the three years ended December 31, 2018, 2017, and 2016:

   
2018
  
2017
  
2016
Trade receivables (gross)
   $109,945   $90,862   $90,463
Allowance for doubtful accounts
   1,305   5   5
Sales
   3,495,519   3,522,226   3,331,812

(a)

 
 
Calculate Maple Leaf’s receivables turnover and average collection period for 2018 and 2017. (Round answers to 1 decimal place, e.g. 52.5.)

    2018   2017
Receivables turnover   enter number of times rounded to 1 decimal place times   enter number of times rounded to 1 decimal place times
Average collection period   enter days rounded to 1 decimal place days   enter days rounded to 1 decimal place days
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