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Xavier Stores Company and Lestrade Stores Inc. are large retall department stores. Both companies offer credit to their customers through their ow credit card operations.

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Xavier Stores Company and Lestrade Stores Inc. are large retall department stores. Both companies offer credit to their customers through their ow credit card operations. Information from the financial statements for both companies for two recent years is as follows (in millions): a. Determine the (1) accounts receivable turnover and (2) the days sales in recelvables for both companies. Round your calculations and answers to one decimal place. Assume 365 days a year. b. Xavier's accounts receivable turnover is much V than Lestrade's. The days' sales in receivables is for xavier than for Lestrade. These differences indicate that Xavier is able to turn over its receivables quicky than Lestrade. As a result, it takes xavier time to collect its recelvables. Foedbuck F check My work a.1. Divide merchandise sales by average credit card receivablesi Average credit card receivables = (Beginning Receivables + Ending Recelvables) +2

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