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	$200,750		$281,050
Credit card receivablesbeginning	29,555		56,208
Credit card receivablesending	24,675		43,276

a. (1) Determine the accounts receivable turnover for both companies. Round to one decimal place.

Bassett Stores	blank 1
Fox Stores	blank 2

(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	[blank 3] days
Fox Stores	[blank 4] days

b. What conclusion can be drawn regarding the two companies and their credit card policies?

1. Bassett Stores is able to collect its credit card receivables more quickly than Fox Stores.

2. Fox Stores is able to collect its credit card receivables more quickly than Bassett Stores.

3. No conclusion about the collection of the credit card receivables can be drawn from these data.