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Financial Reporting Problem: Apple Inc. CTB.1 Refer to the financial statements of Apple Inc. in Appendix A. The complete annual report, including the notes to
Financial Reporting Problem: Apple Inc. CTB.1 Refer to the financial statements of Apple Inc. in Appendix A. The complete annual report, including the notes to the financial statements, is available a the company's website. Instructions A) Calculate the accounts receivable turnover and average collection period for the year ended September 29, 2018. (Assume all sales were credit sales.) B.) Did Apple have any potentially significant credit risks during the same period as specified in (a)? (Hint: Refer to the notes to the financial statements.) C.) What conclusions can you draw from the information in parts (a) and (b)? Financial Reporting Problem: Apple Inc. CTB.1 Refer to the financial statements of Apple Inc. in Appendix A. The complete annual report, including the notes to the financial statements, is available at the company's website. Instructions A.) Calculate the accounts receivable turnover and average collection period for the year ended September 29, 2018. (Assume all sales were credit sales.) B.) Did Apple have any potentially significant credit risks during the same period as specified in (a)? (Hint: Refer to the notes to the financial statements.) C.) What conclusions can you draw from the information in parts (a) and (b)
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