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I need help with the receivable turnover and collection period for 2021 and 2020. How did it become 6.1 times (receivable turnover 2021), 60 days
I need help with the receivable turnover and collection period for 2021 and 2020. How did it become 6.1 times (receivable turnover 2021), 60 days (collection period 2021), 6.7 times (receivable turnover 2020) and 53 days (collection period 2020)? Please indicate a full solution and the correct answer. Thank you.
Selected comparative financial statement data for Page Inc. are shown below Additional information: Calculate all possible liquidity ratios for 2021 and 2020. (Round current ratio to 2 decimal places e.g. 2.66. Round receivables turnover and inventory turnover to 1 decimal place e.g. 6.2. Round collection period and days sales in inventory to 0 decimal places e.g. 1,266. Enter working capital amounts in thousands e.g. 525.)Step by Step Solution
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