Canfor Corporation reported the following selected information in millions) for the three years ended December...
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Accounting
Canfor Corporation reported the following selected information in millions) for the three years ended December 31, 2018, 2017 and 2016 Trade receivables (gross) Allowance for doubtful accounts Sales 2018 $186,5 44 50444 2017 $196,5 35 4.5633 2016 $1686 44 4234.9 (a) X Your answer is incorrect. Calculate Canfor's receivables turnover and average collection period for 2018 and 2017. (Round answers to 1 decimal place, 3. 525) 2017 2018 26.9 Receivables turnover times 25.6 times Average collection period 136 days 143 days
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