Question
The Second Cup is a Canadian specialty coffee retailer with over 350 cafs that serve the needs of thousands of guests daily. Its annual reports
The Second Cup is a Canadian specialty coffee retailer with over 350 cafs that serve the needs of thousands of guests daily. Its annual reports include the following details (in thousands of Canadian dollars): 2015 Net sales: $36,238 Accounts receivable: $5,156 Allowance for doubtful accounts: $1,706 2014 Net sales: $27,497 Accounts receivable: $5,146 Allowance for doubtful accounts: $1,005 2013 Net sales: $27,345 Accounts receivable: $5,015 Allowance for doubtful accounts: $657 2012 Net sales: $26,385 Accounts receivable: $4,813 Allowance for doubtful accounts: $274 2011 Net sales: $25,554 Accounts receivable: $5,651 Allowance for doubtful accounts: $133 2010 Net sales: $25,689 Accounts receivable: $5,959 Allowance for doubtful accounts: $55 1-a. Determine the receivables turnover ratio for each year 2011 - 2015. (Round the final answers to 2 decimal places.) 1-b. Determine the average collection period for each year 2011 - 2015. (Use 365 days a year. Round the intermediate calculations to 2 decimal places and the final answers to the nearest whole number.)
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