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Macroware Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended 6/30/2020 (04) 3/31/2020 (03)
Macroware Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended 6/30/2020 (04) 3/31/2020 (03) 12/31/2019 (02) Balance Sheets: Income statements: Accounts receivable, net $ 18,961 $ 19,850 $ 12,940 Sales revenue $ 24,590 $ 23,370 $ 22,200 Required: Compute the receivables turnover ratio and the average collection period for Q4 and Q3. Assume that each quarter consists of 91 days. Note: Round "Receivables turnover ratio" answers to 3 decimal places and "Average collection period" answers to 2 decimal places. Receivables turnover ratio Q4 Receivables turnover ratio Q3 Average collection period Q4 Averane collection period Q3 times times days days
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