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Compute for each company the average number of days

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Reference no: EM132641300

The following information was taken from recent annual reports of Goodyear Tire ; Rubber and PPL Corp., a public utility:

                                                 Good year                 PPL
Net sales                                 $18.1billion          $11.5billion
Average accounts receivable         2.3billion            923million

Question a. Compute for each company the accounts receivable turnover rate for the year. (Round your answers to 1 decimal place.)

Question b. Compute for each company the average number of days required to collect outstanding receivables. (Use 365 days a year. Round your intermediate calculations to 1 decimal place and final answers to nearest whole day.)

Reference no: EM132641300

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