13 3 points Exercise 7-29 (Algo) Ratio analysis; Microsoft [LO7-9] Real World Financials ABC Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended 9/30/2017 6/30/2017 3/31/2017 eBook (01) (04) Balance sheets: Accounts receivable, net Income statements: $18,161 $ 19,840 (03) $12,930 Hint Sales revenue $24,580 $ 23,360 $22,180 References Required: Compute the receivables turnover ratio and the average collection period for Q1 and Q4. Assume that each quarter consists of 91 days. (Round average accounts receivable answers to nearest whole dollar. Enter your answers in millions. Round "Turnover ratio" answers to 3 decimal places.) Q4 Q1 Q4 Q1 Receivables Turnover Ratio Choose Numerator: Choose Denominator: 1 = Receivables Turnover Ratio =Receivables turnover ratio Average collection period Choose Numerator: / Choose Denominator: 1 = Average collection period = Average collection period = = times times days days