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Please put the calculation in the answer Check my work CP8-5 Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4]
Please put the calculation in the answer
Check my work CP8-5 Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Mathis 2015 2014 2013 $ 7,156 $6,731 $ 7,118 1,228 834 960 28 R 31 32 1,200 803 928 2015 $5,402 1,052 37 1,015 Hashey 2014 $5,368 1,132 39 1,093 2013 $ 5,222 7 04 38 666 Required: 1. Calculate the receivables turnover ratios and days to collect for Mathis and Hashey for 2015 and 2014. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. (Use 365 days in a year. Do not round intermediate calculations on Accounts Receivable Turnover Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) 2014 2015 H ashey Mathis Mathis Hashey Receivables Turnover Ratio 8.4 Days to CollectStep by Step Solution
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