geNOWv2 | Online teachin xKeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=falseO eBookShow Me HowAccounts receivable turnover and days' sales in receivablesFor two recent years, Robinhood Company reported the following:20Υ9OY8Sales$7,581,000$6,435,000Accounts receivable:Beginning of year580,000520,000End of year560,000580,000a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place.20Y8:20Υ9:b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place.20Y8:days20Υ9:daysC. Are the changes in the accounts receivable turnover and days' sales in receivables from 20Y8 to 20Y9 favorable or unfavorable?PreCheck My WorkEmail InstructorSave and ExitSubmit geNOWv2 | Online teachin x+KeAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator=&inprogress%-falseD eBookInternal Control of Cash ReceiptsThe procedures used for over-the-counter receipts are as follows. At the close of each day's business, the sales clerks count the cash in their respective cashdrawers, after which they determine the amount recorded by the cash register and prepare the memo cash form, noting any discrepancies. An employee fromthe cashier's office counts the cash, compares the total with the memo, and takes the cash to the cashier's office.a. Identify the weak link in internal control.b. Who should remove the cash register tapes from the register?PreviousNextCheck My WorkSave and ExitSubmit Assignment for GradingEmall Instructor

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Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Υ9 20Υ8 Sales $7,581,000 $6,435,000 Accounts receivable: Beginning of year End of year 580,000 520,000 560,000 580,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 20Y8: 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 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 $7,581,000 $6,435,000 Accounts receivable: Beginning of year End of year 580,000 520,000 560,000 580,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 20Y8: 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 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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