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Presented here is basic financial information.

Presented here is basic financial information (in millions) from the 2006 annual reports of Green Co. and Brown Co.
(in millions) Green Co. Brown Co.
Sales $17,053.6 $10,116.0
Allowance for doubtful accounts, Jan. 1 79.5 94.1
Allowance for doubtful accounts, Dec. 31 79.4 131.9
Accounts receivable balance (gross), Jan. 1 2,643.4 1,509.8
Accounts receivable balance (gross), Dec. 31 2,930.5 1,890.8

Calculate the receivables turnover ratio and average collection period for both companies.

Green Co. Brown Co.
Receivables turnover ratio times times
Average collection period days days

May 31 2018 View more View Less

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