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Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts WalCo TarMart CostGet $1,755 5,866 569 Receivable $2,702 6,394 605
Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts WalCo TarMart CostGet $1,755 5,866 569 Receivable $2,702 6,394 605 Net Sales $316,427 61,878 62,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) WalCo TarMart CostGet WalCo TarMart CostGet Receivables Turnover Ratio Average Collection Period Receivables turnover ratio times times times Average collection period days days days
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