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7 Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: 7 points ($ in millions) Walmart
7 Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: 7 points ($ in millions) Walmart Target Net Sales $ 449,854 71,766 Beginning Accounts Receivable $5,364 6,303 Ending Accounts Receivable $6,237 6,077 eBook Print Required: References 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.) Net sales Receivables Turnover Ratio Receivables Turnover Ratio Average accounts receivable 449,854/ 71,766 / Walmart $ times Target $ 0 times 365 Average Collection Period Receivables turnover ratio 365 / 365 / Walmart Target Average Collection Period 0 days 0 days 1-b. Which company maintains a higher receivables turnover
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