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Below are amounts (in millions) from three companies' annual reports. Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart
Below are amounts (in millions) from three companies' annual reports.
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.)
2.Which company appears most efficient in collecting cash from sales?
Ending Beginning Accounts WalCo TarMart CostGet Accounts Receivable Receivable Net Sales $2,592 5,844 $305,427 50,878 51,963 $1,645 5,316 459 495Step by Step Solution
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