Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Υ9 20Υ8 Sales $8,707,500 $7,254,000 Accounts receivable: Beginning of year 650,000 590,000 End of year 640,000 650,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 20Υ8: 20Υ9: b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place. 20Y8: days 20Υ9: days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 20Y8 to 20Y9 favorable or unfavorable? 00
Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Υ9 20Υ8 Sales $8,707,500 $7,254,000 Accounts receivable: Beginning of year 650,000 590,000 End of year 640,000 650,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 20Υ8: 20Υ9: b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place. 20Y8: days 20Υ9: days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 20Y8 to 20Y9 favorable or unfavorable? 00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Accounts receivable turnover and days' sales in receivables
For two recent years, Robinhood Company reported the following:
20Υ9
20Υ8
Sales
$8,707,500
$7,254,000
Accounts receivable:
Beginning of year
650,000
590,000
End of year
640,000
650,000
a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place.
20Υ8:
20Υ9:
b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place.
20Υ8:
days
20Υ9:
days
c. Are the changes in the accounts receivable turnover and days' sales in receivables from 20Y8 to 20Y9 favorable or unfavorable?
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