Business
Financial Accounting
A recent annual report for Adobe Inc. contained the following

A recent annual report for Adobe Inc. contained the following data: Required: 1. Determine the receivables turnover

Question:

A recent annual report for Adobe Inc. contained the following data:

Required:
1. Determine the receivables turnover ratio and average days sales in receivables for the current year.
2. Explain the meaning of each calculated number.

Transcribed Image Text:

Accounts receivable Less: Allowances Net accounts receivable Net sales (assume all on credit) (dollars in thousands) Current Year $ 1,544,459 9,650 $ 1,534,809 $11,171,297 Previous Year $1,330,559 14,981 $1,315,578

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Req 1 Dollar amounts in thousands 1315578 1534809 2 Req 2 The ...View the full answer

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Financial Accounting

ISBN: 9781264229734

11th Edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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Question Posted: Sep 21, 2022 01:25 AM

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