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Chapter 14 - Homework eBook Calculator Print Item Accounts Receivable Analysis Xavier Stores Company and...

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Chapter 14 - Homework eBook Calculator Print Item Accounts Receivable Analysis Xavier Stores Company and Lestrade 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 (in millions): Xavier Lestrade Sales Credit card receivables-beginning $8,500,000 820,000 880,000 $4,585,000 600,000 710,000 Credit card receviables-ending a. Determine the (1) accounts receivable turnover and (2) the number of days' sales in receivables for both companies. Round your calculations and answers to one decimal place. Assume 365 days a year. Xavier Lestrade 1. Accounts receivable turnover 2. Number of days' sales in receivables b. Xavier's accounts receivable turnover is much that Xavier is able to turn over its receivables days days than Lestrade's. The number of days' sales in receivables is quickly than Lestrade. As a result, it takes Xavier for Xavier than for Lestrade. These differences indicate time to collect its receivables. Check My Work 5 more Check My Work uses remaining. Previous Next > Assignment Score: 0.0% Save and Exit Submit Assignment for Grading

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