Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $8,646,000 $7,316,000 Accounts receivable: Beginning of year 660,000 580,000 End of year 650,000 660,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal 20Y8: X 20Y9: X b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculat 20Y8: X days 20Y9: X days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 20Y8 to 25 Favorable

Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $8,646,000 $7,316,000 Accounts receivable: Beginning of year 660,000 580,000 End of year 650,000 660,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal 20Y8: X 20Y9: X b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculat 20Y8: X days 20Y9: X days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 20Y8 to 25 Favorable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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