Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Υ9 20Υ8 Sales $8,246,000 $6,961,500 Accounts receivable: Beginning of year 630,000 560,000 End of year 610,000 630,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 20Y8: 20Y9: b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place. 20Υ8: days 20Y9: days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 20Y8 to 20Y9 favorable or unfavorable?

Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Υ9 20Υ8 Sales $8,246,000 $6,961,500 Accounts receivable: Beginning of year 630,000 560,000 End of year 610,000 630,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 20Y8: 20Y9: b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place. 20Υ8: days 20Y9: days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 20Y8 to 20Y9 favorable or unfavorable?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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