Xavier Stores Company and Lestrade Stores Inc. are large retail department stores. Both companies offer credit...

 

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Xavier Stores Company and Lestrade 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 (in millions): Xavier $215,350 $302,950 32,798 52,053 27,382 40,077 a. Determine the (1) accounts receivable turnover and (2) the number of days' sales in receivables for both companies. Round answer to one decimal place. Assume 365 days a year. Sales Credit card receivables-beginning Credit card receivables-ending 1. Accounts receivable turnover 2. Number of days' sales in receivables Xavier Lestrade Lestrade Xavier Stores Company and Lestrade 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 (in millions): Xavier $215,350 $302,950 32,798 52,053 27,382 40,077 a. Determine the (1) accounts receivable turnover and (2) the number of days' sales in receivables for both companies. Round answer to one decimal place. Assume 365 days a year. Sales Credit card receivables-beginning Credit card receivables-ending 1. Accounts receivable turnover 2. Number of days' sales in receivables Xavier Lestrade Lestrade

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