Question: Bassett Stores Company and Fox Stores Inc are large retail

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):

a. Determine
(1) The accounts receivable turnover and
(2) The number of days’ sales in receivables for both companies. Round to nearest dollar and one decimal place.
b. Compare the two companies with regard to their credit cardpolicies.

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  • CreatedFebruary 04, 2014
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