Below Are Amounts for Two Companies For Each Company,calculate the Receivables Turnover Ratio

question 82

Short Answer

Below are amounts for two companies:
$$\begin{array} { l c c c } & \begin{array} { c } \text { Beginning } \\\text { Accounts } \\\text { Receivable (net) }\end{array} & \begin{array} { c } \text { Ending } \\\text { Accounts } \\\text { Receivable } \\\text { (net) }\end{array} & \begin{array} { c } \text { Net } \\\text { Sales }\end{array} \\\hline \text { Company 1 } & \$ 1,500 & \$ 1,200 & \$ 29,700 \\\text { Company 2 } & 3,100 & 3,300 & 80,000\end{array}$$
For each company,calculate the receivables turnover ratio.Which company appears more efficient in collecting cash from sales?

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