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Presented here is basic financial information (in millions) from the annual reports of Oriole and Sheffield. Sales Allowance for doubtful accounts, Jan. 1 Allowance for
Presented here is basic financial information (in millions) from the annual reports of Oriole and Sheffield. Sales Allowance for doubtful accounts, Jan. 1 Allowance for doubtful accounts, Dec. 31 Accounts receivable balance (gross), Jan. 1 Accounts receivable balance (gross), Dec. 31 Oriole $22,200 87.0 81.0 2,500.0 2,900.0 Sheffield $16,300 113 117 2,400 1,500 Calculate the accounts receivable turnover and average collection period for both companies. (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Oriole Sheffield Accounts receivable turnover times times Average collection period days days e Textbook and Media Save for Later Attempts: 0 of 3 used Submit
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