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strade, 7.0 EX 17-10 Accounts receivable analysis Xavier Stores Company and Lestrade Stores Inc. are large retail department stores. Both companies offer credit to their
strade, 7.0 EX 17-10 Accounts receivable analysis Xavier Stores Company and Lestrade Stores Inc. are large retail department stores. Both companies offer credit to their customers through their own credit card operations. Infor- mation from the financial statements for both companies for two recent years is as follows (in millions): Lestrade $4,585.000 600,000 710.000 $8.500.000 820,000 880,000 Credit card receivables--beginning Credit card receviables--ending a. Determine the (1) accounts receivable turnover and (2) the number of days' sales in receivables for both companies. Round to one decimal place. Compare the two companies with regard to their credit card policies
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