Question
ShipIt Corporation reported the following rounded amounts (in millions): May 31 2013 2012 Accounts Receivable $ 5,555 $ 5,260 Allowance for Doubtful Accounts (365) (370)
| ShipIt Corporation reported the following rounded amounts (in millions): |
| May 31 | 2013 | 2012 | ||||
| Accounts Receivable | $ | 5,555 | $ | 5,260 | ||
| Allowance for Doubtful Accounts | (365) | (370) | ||||
| Accounts Receivable, Net of Allowance | $ | 5,190 | $ | 4,890 | ||
| Net Sales (assume all on credit) | $ | 44,000 | $ | 42,500 | ||
| Required: | |
| 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 | |
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Nmap Network Exploration And Security Auditing Cookbook
Authors: Paulino Calderon
2nd Revised Edition
1786467453, 978-1786467454
