The following information is available from the annual reports of Company S and Company J. (In millions) S Net sales revenue $123,300 $43,800 Beginning accounts receivable, net 24,600 3,900 Ending accounts receivable, net 16,500 4,100 Based on the preceding information, compute the following for each company: (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) 1. Accounts receivable turnover. (Assume all sales were credit sales.) 2. Average collection period. 1. Accounts receivable turnover 2. Average collection period S times days J times days

The following information is available from the annual reports of Company S and Company J. (In millions) S Net sales revenue $123,300 $43,800 Beginning accounts receivable, net 24,600 3,900 Ending accounts receivable, net 16,500 4,100 Based on the preceding information, compute the following for each company: (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) 1. Accounts receivable turnover. (Assume all sales were credit sales.) 2. Average collection period. 1. Accounts receivable turnover 2. Average collection period S times days J times days

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 43E: Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required:...

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