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ment i P&E Shipping reported the following rounded amounts (in millions): Accounts Receivable 2019 $ 5,315 (245) 2018 $ 5,020 (250) Allowance for Doubtful
ment i P&E Shipping reported the following rounded amounts (in millions): Accounts Receivable 2019 $ 5,315 (245) 2018 $ 5,020 (250) Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance $ 5,070 $ 4,770 Net Sales (assume all on credit) $ 47,500 $ 46,200 Saved Required: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 10.8? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the receivables turnover ratio and days to collect for 2019. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.) Receivables Turnover Ratio Days to Collect times days P&E Shipping reported the following rounded amounts (in millions): Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) Required: 2019 $ 5,315 (245) $ 5,070 2018 $ 5,020 (250) $ 4,770 $ 47,500 $ 46,200 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 10.8? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 10.8? Improvement Deterioration
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