Accounts Receivable Analysis 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 Lestrade Sales $219,000 $306,600 Credit card receivables-beginning 25,244 58,376 Credit card receivables-ending 21,076 44,944 a. Determine the (1) accounts receivable turnover and (2) the number of days' sales in receivables for both companies. Round answers to one decimal place. Assume 365 days a year. Xavier Lestrade 1. Accounts receivable turnover 9 X 6 X 2. Number of days' sales in receivables 41 X days 61 X days b. Xavier's accounts receivable turnover is higher than Lestrade's. The number of days' sales in receivables is lower X for Xavier than for Lestrade. These differences indicate that Xavier is able to turn over its receivables X quickly than Lestrade. As a result, it takes Xavier less time to collect its receivables. more