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The following information was taken from recent annual reports of the GOODYEAR TIRE RUBBER, and PPL ENERGY CO, a public utility. Net Sales......... Gooyear =
The following information was taken from recent annual reports of the GOODYEAR TIRE RUBBER, and PPL ENERGY CO, a public utility. Net Sales......... Gooyear = $19.6 billion .... PPL $5.1 billion Average Accounts Receivable.... Goodyear = 3.1 billion......PPL = $376 million a. Compute for each company the accounts receivable turnover rate for the year. b. Compute for each company the average number of days required to collect outstanding receivables. ( round to nearest whole day0 c. Explain why the figures computed for Good Year in parts a. and b. Are so different then those computed for PPL
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