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28 Sep 2019
Accounts Receivable Analysis
Shelby Stores Company and Landon Stores, Inc. are large retaildepartment stores. Both companies offer credit to their customersthrough their own credit card operations. Information from thefinancial statements for both companies for two recent years is asfollows (all numbers are in millions):
Shelby Landon Merchandise sales $215,350 $302,950 Credit cardreceivables-beginning 37,686 36,015 Credit card receivables-ending 31,462 27,729
a. Determine the (1) accounts receivableturnover and (2) the number of days' sales in receivables for bothcompanies. Round answers to one decimal place. Assume 365 days ayear.
Shelby Landon 1. Accounts receivableturnover 2. Number of days' sales inreceivables days days
Accounts Receivable Analysis
Shelby Stores Company and Landon Stores, Inc. are large retaildepartment stores. Both companies offer credit to their customersthrough their own credit card operations. Information from thefinancial statements for both companies for two recent years is asfollows (all numbers are in millions):
| Shelby | Landon | |||
| Merchandise sales | $215,350 | $302,950 | ||
| Credit cardreceivables-beginning | 37,686 | 36,015 | ||
| Credit card receivables-ending | 31,462 | 27,729 | ||
a. Determine the (1) accounts receivableturnover and (2) the number of days' sales in receivables for bothcompanies. Round answers to one decimal place. Assume 365 days ayear.
| Shelby | Landon | |||
| 1. Accounts receivableturnover | ||||
| 2. Number of days' sales inreceivables | days | days | ||
Elin HesselLv2
28 Sep 2019
