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Business, 08.04.2021 17:20 Bellzers8328

E8-16 Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4] ShipIt Corporation reported the following rounded amounts (in millions): 2016 2015 Accounts Receivable $ 5,195 $ 4,900 Allowance for Doubtful Accounts (185 ) (190 ) Accounts Receivable, Net of Allowance $ 5,010 $ 4,710 Net Sales (assume all on credit) $ 44,500 $ 43,200 Required: Determine the receivables turnover ratio and days to collect for 2016. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.)

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E8-16 Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4] ShipIt Corp...
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