FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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  1. Accounts receivable turnover and days’ sales in receivables

    For two recent years, Robinhood Company reported the following:

      20Y9 20Y8
    Sales $8,370,000 $6,961,500
    Accounts receivable:    
    Beginning of year 630,000 560,000
    End of year 610,000 630,000

    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: 

    20Y9: 

    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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