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Calculate the accounts receivable turnover

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Question - Presented here is basic financial information (in millions) from the annual reports of Oriole and Sheffield.

 

Oriole

Sheffield

Sales

$22,200

$16,300

Allowance for doubtful accounts, Jan. 1

87.0

113

Allowance for doubtful accounts, Dec. 31

81.0

117

Accounts receivable balance (gross), Jan. 1

2,500.0

2,400

Accounts receivable balance (gross), Dec. 31

2,900.0

1,500

Required - Calculate the accounts receivable turnover and average collection period for both companies.

Reference no: EM133150659

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