Accounts Receivable Analysis Bassett Stores Company and Fox Stores Inc. are large retail department stores....
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Accounts Receivable Analysis Bassett Stores Company and Fox Stores Inc. are large retail department stores. Both companies offer credit to their customers through their own credit card operations. Information from the financial statements for both companies for two recent years is as follows (all numbers are in millions): Bassett Fox Merchandise sales $237,250 $332,150 Credit card receivables-beginning 44,565 72,392 Credit card receivables-ending 37,205 55,736 a. (1) Determine the accounts receivable turnover for both companies. Round to one decimal place. Bassett Stores Fox Stores (2) Determine the days' sales in receivables for both companies. Assume there are 365 days in the year. Round intermediate calculations to the nearest whole dollar and final answers to one decimal place. Bassett Stores days Fox Stores days
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