Bealls Department Store Reports in Millions of Dollars on Its

question 54

Short Answer

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?

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