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Suppose the 2022 financial statements of GlobalTech Inc. report the following: Net Sales: $18.5 billion Accounts Receivable (Net) at the Beginning of the Year: $2.80 billion • Accounts Receivable (Net) at the End of the Year: $3.00 billion 1. Compute Global Tech Inc.'s receivables turnover ratio. 2. Compute GlobalTech Inc.'s average collection period in days.

Suppose the 2022 financial statements of GlobalTech Inc. report the following: Net Sales: $18.5 billion Accounts Receivable (Net) at the Beginning of the Year: $2.80 billion • Accounts Receivable (Net) at the End of the Year: $3.00 billion 1. Compute Global Tech Inc.'s receivables turnover ratio. 2. Compute GlobalTech Inc.'s average collection period in days.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 76E: Ratio Analysis The following information was taken from Nash Inc.s trial balances as of December 31,...
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Suppose the 2022 financial statements of GlobalTech Inc. report the following: Net Sales: $18.5 billion Accounts Receivable (Net) at the Beginning of the Year: $2.80 billion • Accounts Receivable (Net) at the End of the Year: $3.00 billion 1. Compute Global Tech Inc.'s receivables turnover ratio. 2. Compute GlobalTech Inc.'s average collection period in days.
Transcribed Image Text:Suppose the 2022 financial statements of GlobalTech Inc. report the following: Net Sales: $18.5 billion Accounts Receivable (Net) at the Beginning of the Year: $2.80 billion • Accounts Receivable (Net) at the End of the Year: $3.00 billion 1. Compute Global Tech Inc.'s receivables turnover ratio. 2. Compute GlobalTech Inc.'s average collection period in days.
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