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Exercise 7-30(Algo) Ratio analysis; Macroware [LO7-9] Macroware Corporation reported the following information in...

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Accounting

Exercise 7-30(Algo) Ratio analysis; Macroware [LO7-9]
Macroware Corporation reported the following information in its financial statements for three successive quarters ($ in millions):
Required:
Compute the receivables turnover ratio and the average collection period for Q4 and Q3. Assume that each quarter consists of 91
days.
Note: Round "Receivables turnover ratio" answers to 3 decimal places and "Average collection period" answers to 2 decimal
places.
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