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Assume selected financial data for Wide Mart and Bullseye, two close competitors in the retail industry, are as follows: ($ in millions) Net Sales Beginning
Assume selected financial data for Wide Mart and Bullseye, two close competitors in the retail industry, are as follows: ($ in millions) Net Sales Beginning Accounts Receivable Ending Accounts Receivable Wide Mart $ 455,854 $ 5,664 $ 6,537 Bullseye 75,066 6,453 6,227 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Wide Mart and Bullseye. 1-b. Which company maintains a higher receivables turnover?
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