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Answers eBook Accounts Receivable Analysis Bassett Stores Company and Fox Stores Inc. are large retail department stores. Both companies offer credit to their customers through

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eBook 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 financial statements for both companies for two recent years is as follows (all numbers are in millions) : Bassett Fox Merchandise sales $726,000 $2,470,000 Credit card receivables- 75,000 350,000 beginning Credit card receivables-ending 90,000 410,000 a. (1) Determine the accounts receivable turnover for both companies. Round answers to one decimal place. Bassett stores Fox stores (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 days Fox stores days

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