Bealls Department Store reports in millions of dollars on its balance sheet for year-end Year 6 and Year 5 as follows:
$\begin{array}{lll}&\text { Year } 6 & \text { Year } 5\
\text { Credit Card Receivables } & \$ 27,371 & \$ 24,932 \
\text { Less: Allowance for Uncollectibles } & (821) & (808)
\end{array}$ It reports charge-offs [synonym for write-offs] of accounts receivable during Year 6 of 4.5 percent of its average gross receivables of $26,000 million and that Bad Debt Expense is 3.5 percent of credit card sales.What were Bealls' credit card sales for Year 6?

Question

Bealls Department Store reports in millions of dollars on its balance sheet for year-end Year 6 and Year 5 as follows:
 $\begin{array}{lll}&\text { Year } 6 & \text { Year } 5\
\text { Credit Card Receivables } & \$ 27,371 & \$ 24,932 \
\text { Less: Allowance for Uncollectibles } & (821) & (808)
\end{array}$ It reports charge-offs [synonym for write-offs] of accounts receivable during Year 6 of 4.5 percent of its average gross receivables of $26,000 million and that Bad Debt Expense is 3.5 percent of credit card sales.What were Bealls' credit card sales for Year 6?

Quizplus · Accepted Answer

The Answer of Bealls Department Store reports in millions of dollars on its balance sheet for year-end Year 6 and Year 5 as follows:
 $\begin{array}{lll}&\text { Year } 6 & \text { Year } 5\
\text { Credit Card Receivables } & \$ 27,371 & \$ 24,932 \
\text { Less: Allowance for Uncollectibles } & (821) & (808)
\end{array}$ It reports charge-offs [synonym for write-offs] of accounts receivable during Year 6 of 4.5 percent of its average gross receivables of $26,000 million and that Bad Debt Expense is 3.5 percent of credit card sales.What were Bealls' credit card sales for Year 6?

Bealls Department Store Reports in Millions of Dollars on Its