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Shelby Stores Company and Landon Stores Inc, are large retail department stores. Both companies offer credit to their customers through their own credit card operations.

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Shelby Stores Company and Landon 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) Shelby Landon Merchandise sales Credit card receivables-beginning Credit card receivables-ending $255,500 $357,700 44,788 68,327 37,39252,605 a. (1). Determine the accounts receivable turnover for both companies. Round to one decimal place Shelby Stores Landon Stores (2). Determine the number of days sales in receivables for both companies. Assume there are 365 days in the year. Round intermediate calculations to the whole dollar and final answers to one decimal place. days days Shelby Stores Landon Stores b. What conclusion can be drawn regarding the two companies and their credit card policies? Select Shelby Stores is able to collect its credit card receivables more quickly than Landon Stores Landon Stores is able to collect its credit card receivables more quickly than Shelby Stores No conclusion about the collection of the credit card receivables can be drawn from these data. Check My Work (3 remai

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