The Procter & Gamble Company and Colgate-Palmolive Company report the following sales and accounts receivable balances($ millions):

Question:

a. Compute' accounts receivable turnover and average collection period for both companies.

b. Identify and discuss a potential explanation for the difference between these competitors' account receivable turnover.

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Financial Accounting

ISBN: 9781618533111

6th Edition

Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman

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Question Posted: Oct 15, 2021 03:55 AM

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The Procter & Gamble Company and Colgate-Palmolive Company report the following sales and accounts receivable balances($ millions):

Question:

Procter & Gamble Colgate-Palmolive Accounts Accounts Fiscal year Sales Receivable Fiscal year Sales Receivable June 30, 2018.... $66,832 June 30, 2017.... December 31, 2017.... $15.454 December 31, 2016.... $4,686 $1.480 65,058 4,594 15,195 1,411

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a b PG turns its accounts receivable faster than ColgatePalmolive Receivable turns typically evolve ...View the full answer

Financial Accounting

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