M5-21 complete part A and B

M5-21. Evaluating Accounts Receivable Turnover for Competitors LO5 Procter & Gamble Company and Colgate-Palmolive Company report the following sales and accounts receivable balances (S millions) for 2015 and 2014. PROcT & GAM COMPA (PG COLGA PALMOL COMPA (CL) Procter & Gamble Colgate-Palmolive Accounts Receivable $4,861 6,386 Accounts Receivable $1,427 1,552 $millions Sales $16,034 17,277 Sales 2015.. a. Compute the accounts receivable turnover and DSO for both companies for 2015. b. Identify and discuss a potential explanation for the difference between these competitors' accounts receivable ratios