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The following information is available from the annual reports of Pina Colada Corp. and Wildhorse Co. Companies. (In millions) Pina Colada Corp. Wildhorse Co. Sales

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The following information is available from the annual reports of Pina Colada Corp. and Wildhorse Co. Companies. (In millions) Pina Colada Corp. Wildhorse Co. Sales $130,000 $43,600 Beginning receivables, net 20,900 3,000 4,700 Ending receivables, net 16,200 Based on the preceding information, compute the following for each company: (Round answers to 1 decimal place, eg. 15.2. Use 365 days for calculation.) 1. Accounts receivable turnover. (Assume all sales were credit sales.) 2. Average collection period. Pina Colada Corp. Wildhorse Co. 1. Accounts receivable turnover times times 2. Average collection period days days

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