Question
ShipIt Corporation reported the following rounded amounts (in millions): 2016 2015 Accounts Receivable $ 5,475 $ 5,180 Allowance for Doubtful Accounts (325 ) (330 )
ShipIt Corporation reported the following rounded amounts (in millions): 2016 2015 Accounts Receivable $ 5,475 $ 5,180 Allowance for Doubtful Accounts (325 ) (330 ) Accounts Receivable, Net of Allowance $ 5,150 $ 4,850 Net Sales (assume all on credit) $ 41,500 $ 40,000
Required: Determine the receivables turnover ratio and days to collect for 2016.
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Financial Accounting Theory And Analysis Text And Cases
Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey
14th Edition
1119881226, 978-1119881223
