Question
Accounts receivable turnover and days sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $8,167,500 $6,728,000 Accounts receivable: Beginning
Accounts receivable turnover and days sales in receivables
For two recent years, Robinhood Company reported the following:
20Y9 20Y8
Sales $8,167,500 $6,728,000
Accounts receivable:
Beginning of year 610,000 550,000
End of year 600,000 610,000
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: ___ days
20Y9:____ days
c. Are the changes in the accounts receivable turnover and days sales in receivables from 20Y8 to 20Y9 favorable or unfavorable?
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