Question: Question Content Area Financial statement data for the years ended December 3 1 for Parker Corporation are as follows: Current Year Prior Year Sales $

Question Content Area
Financial statement data for the years ended December 31 for Parker Corporation are as follows:
Current Year
Prior Year
Sales $2,595,600 $2,409,500
Accounts receivable:
Beginning of year 390,000400,000
End of year 434,000390,000
a. Determine the accounts receivable turnover for each year. Round your answers to one decimal place.
Accounts Receivable
Turnover
Current Year fill in the blank 1
times
Prior Year fill in the blank 2
times
b. Determine the days' sales in receivables for each year. Round your answers to nearest day. Assume 365 days per year.
Number of Days' Sales
in Receivables
Current Year fill in the blank 3
days
Prior Year fill in the blank 4
days
c. Does the change in accounts receivable turnover and days sales in receivables from the first year to the second year indicate a favorable or unfavorable change?

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