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The financial data for Cullumber Foods Inc. and Blossom Enterprises Ltd. for the current year are as follows (amounts in thousands): Accounts Accounts Annual Sales
The financial data for Cullumber Foods Inc. and Blossom Enterprises Ltd. for the current year are as follows (amounts in thousands): Accounts Accounts Annual Sales Receivable Jan. 1 Receivable Dec. 31 Cullumber Foods $65,000 $6.050 $8,310 Blossom Enterprises 32,750 1,890 1,840 (a) V Your answer is correct. Calculate the accounts receivable turnover for each company assuming that all sales are on account. (Round answers to 1 decimal place, e.g. 18.4.) Cullumber Foods Blossom Enterprises Accounts receivable turnover 9.1 times 17.6 times(b) Calculate the average number of days required by each company to collect its receivables. (Round answers to 1 decimal place, e.g. 18.4.) Cullumber Foods Blossom Enterprises Days to collect days SAEP eTextbook and Media Save for Later Attempts: 0 of 3 used Submit
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