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kAssignment/takeAssignmentMain.do?invokerStakeAssignmentSessionLocator=&inprogress-false eBook Show Me How Video Calculator Accounts Receivable Turnover for Healthy Hills The 2015 annual report of Healthy Hills (the maker of Smiley O's and Oaties) reported the following amounts (in millions of dollars); Revenues, for the year ended May 31, 2015 $14,540 Accounts receivable, net, May 31, 2015 953 Accounts receivable net, May 31, 2014 1,082 Required: 1. Compute Healthy Hills's accounts receivable turnover ratio for the year ended May 31, 2015. Assume that all sales are on credit. Round your answer to two decimal places 2. What is the average collection period in days for an account receivable. (assuming 360 in a year) Round the final answer to the nearest number. days 3a. Which of the following would be the types of customers that Healthy Hills would have: a. Grocery wholesalers b. Grocery chains c. Institutional food services d. All of the above 3. Select the answer that would be helpful to determine if the average collection period for sales is reasonable: Industry comparisons b. Prior years comparisons c. Credit terms d. All of the above would be helpful Check My Work more Check My Work uses remaining Previous Next kAssignment/takeAssignmentMain.do?invokerStakeAssignmentSessionLocator=&inprogress-false eBook Show Me How Video Calculator Accounts Receivable Turnover for Healthy Hills The 2015 annual report of Healthy Hills (the maker of Smiley O's and Oaties) reported the following amounts (in millions of dollars); Revenues, for the year ended May 31, 2015 $14,540 Accounts receivable, net, May 31, 2015 953 Accounts receivable net, May 31, 2014 1,082 Required: 1. Compute Healthy Hills's accounts receivable turnover ratio for the year ended May 31, 2015. Assume that all sales are on credit. Round your answer to two decimal places 2. What is the average collection period in days for an account receivable. (assuming 360 in a year) Round the final answer to the nearest number. days 3a. Which of the following would be the types of customers that Healthy Hills would have: a. Grocery wholesalers b. Grocery chains c. Institutional food services d. All of the above 3. Select the answer that would be helpful to determine if the average collection period for sales is reasonable: Industry comparisons b. Prior years comparisons c. Credit terms d. All of the above would be helpful Check My Work more Check My Work uses remaining Previous Next

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