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X Your answer is incorrect. Presented here is basic financial information (in millions) from the...

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Accounting

X Your answer is incorrect. Presented here is basic financial information (in millions) from the annual reports of Pharoah and Sheridan. Sales Allowance for doubtful accounts, Jan. 1 Allowance for doubtful accounts, Dec. 31 Accounts receivable balance (gross), Jan. 1 Accounts receivable balance (gross), Dec. 31 Accounts receivable turnover Average collection period Pharoah Pharoah $22,000 80.0 86.0 2,500.0 2,900.0 8.2 14 Sheridan Calculate the accounts receivable turnover and average collection period for both companies. (Round answers to 1 decimal place, eg. 15.2. Use 365 days for calculation.) 445 $14,300 117 111 2,000 1,400 times days Sheridan 8.4 43.5 times days
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Presented here is basic financial information (in millions) from the annual reports of Pharoah and Sheridan. Calculate the accounts receivable turnover and average collection period for both companies. (Round answers to 1 decimal place, eg. 15.2 Use 365 days for calculation)

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