Question
Accounts receivable turnover and days sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $7,647,500 $6,264,000 Accounts receivable: Beginning
Accounts receivable turnover and days sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $7,647,500 $6,264,000 Accounts receivable: Beginning of year 580,000 500,000 End of year 570,000 580,000
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: days 20Y9: days
c. Are the changes in the accounts receivable turnover and days sales in receivables from 20Y8 to 20Y9 favorable or unfavorable?
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