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Accounts Receivable Turnover for Rise-n-shine Company The 2015 annual report of Rise-n-shine Company (the maker of Brandees and Munchems) reported the following amounts (in millions
Accounts Receivable Turnover for Rise-n-shine Company The 2015 annual report of Rise-n-shine Company (the maker of Brandees and Munchems) reported the following amounts (in millions of dollars): $14,670 Revenues, for the year ended May 31, 2015 Accounts receivable, net, May 31, 2015 Accounts receivable, net, May 31, 2014 953 1,082 Requiredi 1. Compute Rise-n-shine Company's accounts receivable turnover ratio for the year ended May 31, 2015. Assume that all sales are on credit. Round your answer to two decimal places times 2. What is the average collection period in days for an account receivable (assuming 360 in a year) Round the final answer to the nearest number days
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