Below Are Amounts In Millions From Three Companies Annual Reports Beginning Ending Accounts Accounts Receivable Rece 1 (38.08 KiB) Viewed 14 times
Below Are Amounts In Millions From Three Companies Annual Reports Beginning Ending Accounts Accounts Receivable Rece 2 (7.46 KiB) Viewed 14 times
Below are amounts (in millions) from three companies' annual reports. Beginning Ending Accounts Accounts Receivable Receivable $1,665 5,416 479 WalCo TarMart CostGet WalCo TarMart CostGet $2,612 5,944 515 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) WalCo TarMart CostGet Net Sales $307,427 52,878 53,963 Receivables Turnover Ratio Average Collection Period Receivables turnover ratio times times times Average collection period days days days
2. Which company appears most efficient in collecting cash from sales? WalCo TarMart CostGet
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