For two recent years, Robinhood Company reported the following: 20Y9 20Y8 $7,492,500 $6,206,000 Sales Accounts receivable:...

 

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For two recent years, Robinhood Company reported the following: 20Y9 20Y8 $7,492,500 $6,206,000 Sales Accounts receivable: Beginning of year 510,000 End of year 560,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 560,000 550,000 b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place. c. Are the changes in the accounts receivable turnover and days' sales in receivables from 20Y8 to 20Y9 favorable or unfavorable? For two recent years, Robinhood Company reported the following: 20Y9 20Y8 $7,492,500 $6,206,000 Sales Accounts receivable: Beginning of year 510,000 End of year 560,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 560,000 550,000 b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place. c. Are the changes in the accounts receivable turnover and days' sales in receivables from 20Y8 to 20Y9 favorable or unfavorable?

Answer rating: 100% (QA)

To calculate the accounts receivable turnover and days sales in receivables well use the following formulas Accounts Receivable Turnover Sales Average ... View the full answer