I know it increases, just dont know by how much. Shiplt Corporation...
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I know it increases, just dont know by how much.
Shiplt Corporation reported the following rounded amounts (in millions): $ 5,415 $ 5,120 Accounts Receivable Allowance for Doubtful Accounts (295) (300) Accounts Receivable, Net of Allowance 5,120 S 4,820 Net Sales (assume all on credit) 40,000 S 38,500 Required 1. Determine the receivables turnover ratio and days to collect for 2013. (Use 365 days in a year. Do not round your intermediate calculations. Round your answers to 1 decimal place.) Receivables Turnover Ratio Days to Collect times days 2. Do the measures calculated in requirement 1 represent an improvement (or decline) in receivables turnover, compared to 2012 when the turnover was 6.5 O Improvement O Decline
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