Accounts Receivable Analysis Bassett Stores Company and Fox Stores Inc. are large retail department stores. Both companies offer credit to their customers through their own credit card operations. Information from the nancial statements for both companies for two recent years is as follows (all numbers are in millions): Bassett Fox Merchandise sales $211,700 $295,650 Credit card receivablesbeginning 45,898 40,456 Credit card receivablesending 38,318 31,148 a. (1) Determine the accounts receivable turnover for both companies. Round to one decimal place. > Bassett Stores S Foxsmres I: (2) Determine the days' sales in receivables for both companies. Assume there are 365 days in the year. Round intermediate calculations to the nearest whole dollar and final answers to one decimal place. Bassett Stores 1: days Fox Stores days b. What conclusion can be drawn regarding the two companies and their credit card policies? Fox Stores is able to collect its credit card receivables more quickly than Bassett Stores. Bassett Stores is able to collect its credit card receivables more quickly than Fox Stores. No conclusion about the collection of the credit card receivables can be drawn from these data. I Drnuiru Ic Navi- \\