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Accounts Receivable Analysis Bassett Stores Company and Fox Stores Inc. are large retail department stores. Both companies of

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Answer #1

Accounts Receivable Turnover = Credit sales/Average accounts receivables

Bassett stores = 240,900/[(39063+32613)/2]

= 6.7

Fox stores = 335,800/[(76099+58589)/2]

= 5

Days' sales in receivables = 365/Accounts Receivable Turnover

Bassett stores = 365/6.7

= 54 days

Fox stores = 365/5

= 73 days

Note that I have rounded some numbers. Comment if you face any issues

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