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Category > Accounting Posted 11 Jul 2017 My Price 4.00

The Limited Brands Inc.

The Limited Brands Inc. sells women's clothing and personal health care products through specialty retail stores including Victoria's Secret and Bath & Body Works stores. The Limited Brands reported the following (in millions) for two recent years:

Year 2 Year 1

Net sales $9613 $8632

Accounts receivable 267 249

 

Assume that accounts receivable (in millions) were $313 at the beginning of Year 1.

 

a. Compute the accounts receivable turnover for Year 2 and Year 1. Round to one decimal place.

Year 2: 

Year 1: 

b. Compute the days' sales in receivables for Year 2 and Year 1. Round interim calculations and final answers to one decimal place. Use 365 days per year in your calculations.

Year 2:  __days

Year 1:  __days

Answers

SuperTutor
(15)
Status NEW Posted 11 Jul 2017 05:07 AM My Price 4.00

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