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J. M. Smucker is well known for its fruit jams and Seneca Foods Corporation is the company behind Green Giant canned vegetables To evaluate their
J. M. Smucker is well known for its fruit jams and Seneca Foods Corporation is the company behind Green Giant canned vegetables To evaluate their ability to collect on credit sales, consider the following rounded information in their annual reports (amounts in millions) J. M. Smucker 2015 Seneca Foods 2014 Fiscal Year Ended April 30: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2014 $7,800 5,690 $5,610 311 2016 2016 2015 1,290 1,340 $ 1,275 78 451 431 72 79 450 430 310 70 Required 1. Calculate the receivables turnover ratios and days to collect for Smucker and Seneca for the fiscal years ended in 2016 and 2015 (Use 365 days in a year. Round your answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) 2016 2015 J.M. Smucker Seneca FoodsJ.M. Smucker Seneca Foods Receivables Turnover Ratio Days to Collect
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