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): Merchandise Sales Credit Card recevables-beginning Credit card receivables-ending Sassett Fox 1222,650 $310,250 37.454 44,087 31,252 33,943 .. (1) Determine the accounts receive turnover for both companies. Round to one decimal place. Bassett Stores Yox Stores (2) Determine the days tales 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 Fox Stores Idars Idays b. What conclusion can be down regarding the companies and their credit card policies
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