Essay
Selected 2016 balance sheet and income statement information for two large communication companies, Vista Communication, Inc., and American Phone, Inc., follow:
A. Compute accounts receivable turnover for Vista Communications Inc. and American Phone.
B. Interpret and comment on the differences between the receivables turnover rates between each company assuming the industry average is 9.0 times.
Correct Answer:
Verified
A. Vista: $289,615 / $24,352 = 11.89
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Correct Answer:
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