Microsoft Corporation reported the following information in its financial statements for three successive quarters ($ in millions):

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Compute the receivables turnover ratio and the average collection period for Q4 and Q3. Assume that each quarter consists of 91 days.

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Intermediate Accounting

ISBN: 9781264134526

11th Edition

Authors: David Spiceland

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Question Posted: Jun 27, 2022 03:32 AM

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Microsoft Corporation reported the following information in its financial statements for three successive quarters ($ in millions):

Question:

Balance sheets: Accounts receivable, net Income statements: Sales revenue 6/30/2020 (Q4) $32,011 $38,033 Three Months Ended 3/31/2020 (Q3) $22,699 $35,021 12/31/2019 (Q2) $23,525 $36,906

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Q4 ended 6302020 Average receivables balance 32011 226992 2735...View the full answer

Intermediate Accounting

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