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Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: Sales Accounts receivable: 20Y8: 20Y9: 20Y9 $8,514,000 Beginning
Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: Sales Accounts receivable: 20Y8: 20Y9: 20Y9 $8,514,000 Beginning of year 570,000 End of year 650,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round your answers to one decimal place. 20Y8: 20Y9: 20Y8 $7,137,000 650,000 640,000 b. Determine the days' sales in receivables for 20Y9 and 20Y8. Assume 365 days in a year. Round intermediate calculations and final answers to one decimal place. days 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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