Problem $5-9$A $($Algo$)$ Calculate and analyze ratios $($LO$5-8)$

Assume selected financial data for Wally World and Tarjay, two close competitors in the retail industry, are as follows:

$($$ in millions$)$ Net Sales Beginning Accounts Receivable Ending Accounts Receivable

Wally World $ $448,854$ $ $5,314$ $ $6,187$

Tarjay $71,2166,2786,052$

Required:

$1-$a$.$ Calculate the receivables turnover ratio and average collection period for Wally World and Tarjay.

$1-$b$.$ Which company maintains a higher receivables turnover?