## (solution) Below are amounts (in millions) from three companies' annual

Below are amounts (in millions) from three companies' annual reports.

 BeginningAccountsReceivable EndingAccountsReceivable Net Sales WalCo \$1,655 \$2,602 \$306,427 TarMart 5,366 5,894 51,878 CostGet 469 505 52,963

1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.)

 Receivables Turnover Ratio ÷ = Receivables turnover ratio WalCo times TarMart times CostGet times Average Collection Period ÷ = Average collection period WalCo days TarMart days CostGet days

2.Which company appears most efficient in collecting cash from sales?

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