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Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $7,590,000 $6,431,000 Accounts receivable: Beginning of year End of year 580,000 570,000 510,000 580,000 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. 20Y8: 20Y9: days days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 2018 to 20Y9 favorable or unfavorable?

Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $7,590,000 $6,431,000 Accounts receivable: Beginning of year End of year 580,000 570,000 510,000 580,000 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. 20Y8: 20Y9: days days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 2018 to 20Y9 favorable or unfavorable?

FINANCIAL ACCOUNTING
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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Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $7,590,000 $6,431,000 Accounts receivable: Beginning of year End of year 580,000 570,000 510,000 580,000 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. 20Y8: 20Y9: days days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 2018 to 20Y9 favorable or unfavorable?
Transcribed Image Text:Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $7,590,000 $6,431,000 Accounts receivable: Beginning of year End of year 580,000 570,000 510,000 580,000 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. 20Y8: 20Y9: days days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 2018 to 20Y9 favorable or unfavorable?
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