Question
Hi, I need some help solving this question- Accounts receivable turnover and days sales in receivables For two recent years, Robinhood Company reported the following:
Hi, I need some help solving this question-
Accounts receivable turnover and days sales in receivables
For two recent years, Robinhood Company reported the following:
20Y920Y8Sales$8,040,000$6,555,000Accounts receivable: Beginning of year610,000530,000End of year590,000610,000a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place.
20Y8: fill in the blank 1
20Y9: fill in the blank 2
b. Determine the days sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place.
20Y8: fill in the blank 3 days
20Y9: fill in the blank 4 days
c. Are the changes in the accounts receivable turnover and days sales in receivables from 20Y8 to 20Y9 favorable or unfavorable?
FavorableUnfavorable
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