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Compare two companies with regard to credit card policies

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Reference no: EM132684292

Problem - Accounts receivable analysis - Klick Company and Klack 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):

 

Klick

Klack

Merchandise sales

$18,000

$70,980

Credit card receivables-beginning

3,300

9,000

Credit card receivables-ending

2,700

6,600

Required -

a1. Determine the accounts receivable turnover for both companies. Round to one decimal place.

a2. Determine the number of days' sales in receivables for both companies. Round to one decimal place.

b. Compare the two companies with regard to their credit card policies.

Reference no: EM132684292

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