Question: Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: Ending Accounts Receivable ($ in millions) Walmart

 Assume selected financial data for Walmart and Target, two close competitors

Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: Ending Accounts Receivable ($ in millions) Walmart Target Net Sales $463,854 79,466 Beginning Accounts Receivable $6,064 6,653 $6,937 6,427 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target. (Enter your answers in millions. Do not round your Intermediate calculations and round your answers to 1 decimal place.) Receivables Turnover Ratio = Receivables Turnover Ratio Walmart Target Oltimes Average Collection Period = Average Collection Period Walmart Target days 1-b. Which company maintains a higher receivables tumover? Walmart Target

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