May Department Stores is a large retailer that operates such brands as Hechts, Lord & Taylor, Marshall
Question:
Accounts receivable 2,294 1,788
Assume that accounts receivable (in millions) were $1,776 on January 31, 2003.
a. Compute the accounts receivable turnover for the year ended January 29, 2005, and the year ended January 31, 2004. Round to one decimal place.
b. What conclusions can be drawn from these analyses regarding May Department Stores efficiency in collectingreceivables?
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Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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