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The following information is available from the annual reports of Nash's Trading Post, LLC and Cullumber Company Companies. Sales Beginning receivables, net Ending receivables, net
The following information is available from the annual reports of Nash's Trading Post, LLC and Cullumber Company Companies. Sales Beginning receivables, net Ending receivables, net (In millions) Nash's Trading Post, LLC $110,000 19,000 15,000 Cullumber Company $30,000 3,000 4,000 Based on the preceding information, compute the following for each company: (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) 1. Accounts receivable turnover. (Assume all sales were credit sales.) Average collection period. 2. Nash's Trading Post, LLC Cullumber Company 1. Accounts receivable turnover times times 2. Average collection period days days
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