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Below are amounts (in millions) from threecompanies' annual reports. Beginning Accounts Receivable Ending Accounts Receivable Net Sales WalCo $ 1,685 $ 2,632 $ 309,427 TarMart
Below are amounts (in millions) from threecompanies' annual reports.
| Beginning Accounts Receivable | Ending Accounts Receivable | Net Sales | ||||||||||||
| WalCo | $ | 1,685 | $ | 2,632 | $ | 309,427 | ||||||||
| TarMart | 5,516 | 6,044 | 54,878 | |||||||||||
| CostGet | 499 | 535 | 55,963 | |||||||||||
Required:
1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet
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Cornerstones of Managerial Accounting
Authors: Mowen, Hansen, Heitger
3rd Edition
324660138, 978-0324660135
