L Brands, Inc. sells women's clothing and personal health care products through specialty retail stores including Victoria's

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L Brands, Inc. sells women's clothing and personal health care products through specialty retail stores including Victoria's Secret and Bath & Body Works stores. L Brands reported the following (in millions) for two recent years:
L Brands, Inc. sells women's clothing and personal health care

A. Determine the accounts receivable turnover for Year 1 and Year 2. (Round all calculations to one decimal place.)
B. Compute the number of days' sales in receivables for Year 1 and Year 2. (Use 365 days and round all calculations to one decimal place.)
C. what conclusions can be drawn from these analyses regarding L Brands' efficiency in collecting receivables?

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Financial And Managerial Accounting

ISBN: 9781337119207

14th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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