Question
Accounts receivable turnover and days' sales in receivables Financial statement data for years ending December 31 for Robinhood Company follow: 2019 20Y8 Sales $7,906,000
Accounts receivable turnover and days' sales in receivables Financial statement data for years ending December 31 for Robinhood Company follow: 2019 20Y8 Sales $7,906,000 $6,726,000 Accounts receivable: Beginning of year End of year 600,000 580,000 540,000 600,000 a. Determine the accounts receivable turnover for 2019 and 2018. If required, round the final answers to one decimal place. Accounts Receivable Turnover 2019 20YS b. Determine the days' sales in receivables for 2019 and 2018. Use 365 days, if required round the final answers to one decimal place. 2019 2018 Days' Sales In Receivables days days c. Does the change in accounts receivable turnover and the days' sales in receivables from 2018 to 2019 indicate a favorable or unfavorable change?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started