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Bassett Stores Company and Fox Stores Inc are large retail department stores. Both companies offer credit to thein customers through their own credit card operations.
Bassett Stores Company and Fox Stores Inc are large retail department stores. Both companies offer credit to thein 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): a. (1) Determine the accounts recelvabie turnover for both companies, Round to one decimal place. (2) Determine the days' sales in recelvables for both companies. Assume there are 365 days in the yeac Round intermediate calculations to the nearest whole dollar and final answers to one decimal place. b. What conclusion can be drawn regarding the two companies and their credit card pollices
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