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PE 9-6B Accounts Receivable Turnover and Days' Sales in Receivables OBJ. 8 EE 9-6 Financial statement data for years ending December 31 for Cinderella Company
PE 9-6B Accounts Receivable Turnover and Days' Sales in Receivables OBJ. 8 EE 9-6 Financial statement data for years ending December 31 for Cinderella Company follow: 2079 2018 Sales $9,525,000 $7,616,000 Accounts receivable: Beginning of year 715,000 645,000 End of year 785,000 715,000 a. Determine the accounts receivable turnover for 2049 and 20Y8. Round accounts receivable turnover to one decimal place. b. Determine the days' sales in receivables for 2049 and 20Y8. Use 365 days and round to one decimal place. c. Does the change in accounts receivable turnover and the days' sales in receivables from 20Y8 to 2049 indicate a favorable or unfavorable change? a
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