Road Runner Express reported the following rounded amounts (in millions); 2018 $5,280 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) 2019 $ 5,575 (375) $ 5,200 $ 44,500 (380) $ 4,900 $ 43,000 Required: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared 2018, when the turnover was 10.2? Complete this question by entering your answers in the tabs below.

Road Runner Express reported the following rounded amounts (in millions); 2018 $5,280 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) 2019 $ 5,575 (375) $ 5,200 $ 44,500 (380) $ 4,900 $ 43,000 Required: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared 2018, when the turnover was 10.2? Complete this question by entering your answers in the tabs below.

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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