Essay
Selected recent balance sheet and income statement information for the computer software companies, Valley Enterprises and Mountain Industries follow:
a. Compute accounts receivable turnover for Valley Enterprises and Mountain Industries.
b. Interpret and comment on the differences between the receivables turnover rates between each company assuming the industry average is 6.0 times.
Correct Answer:
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a. Valley: $215,616 / $36,414 = 5.92 tim...View Answer
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Correct Answer:
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