H.J. Heinz Company was founded in 1869 at Sharpsburg, Pennsylvania, by Henry J. Heinz. The company manufactures
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Assume that the accounts receivable (in thousands) were $996,852 at the beginning of fiscal year 2008.
a. Compute the accounts receivable turnover for 2009 and 2008. Round to one decimal place.
b. Compute the days€™ sales in receivables at the end of 2009 and 2008. Round to one decimal place.
c. What conclusions can be drawn from these analyses regarding Heinz€™s efficiency in collectingreceivables?
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a and b 2009 2008 Net sales 10148082 10070778 Accounts receivable 1171797 1161481 Average ac...View the full answer
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