ShipIt Corporation reported the following rounded amounts (in millions):

May 31

2013

2012

Accounts Receivable

$

5,295

$

5,000

Allowance for Doubtful Accounts

(235)

(240)

Accounts Receivable, Net of Allowance

$

5,060

$

4,760

Net Sales (assume all on credit)

$

47,000

$

45,700

1.	Determine the receivables turnover ratio and days to collect for 2013. (Use 365 days in a year. Do not round your intermediate calculations. Round your answers to 1 decimal place.)

Receivables Turnover Ratio		times
Days to Collect		days

2.

Do the measures calculated in requirement 1 represent an improvement (or decline) in receivables turnover, compared to 2012 when the turnover was 8.1?

	Improvement
	Decline