Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 $8,312,500 $7,021,000 Sales Accounts receivable: Beginning of year 560,000 End of year 630,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 20Y8: 20Y9: 13.3 X 11.8 X 20Y9: b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place. 20Y8: 1,712.3 days 630,000 620,000 days

Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 $8,312,500 $7,021,000 Sales Accounts receivable: Beginning of year 560,000 End of year 630,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 20Y8: 20Y9: 13.3 X 11.8 X 20Y9: b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place. 20Y8: 1,712.3 days 630,000 620,000 days

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter6: Receivables And Inventories

Section: Chapter Questions

Problem 6.9.2MBA

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Accounts receivable turnover and days' sales in receivablesFor two recent years, Robinhood Company reported the following: a. Determine the accounts receivable turnover for 2049 and 20Y8. Roundanswers to one decimal place.b. Determine the days' sales in receivables for 2049 and 20Y8. Use 365days and round all calculations to one decimal place.c. Are the changes in the accounts receivable turnover and days' sales inreceivables from 20Y8 to 2049 favorable or unfavorable?