Solution-Determine the days sales in receivables

Determine the days sales in receivables

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Reference no: EM133105413

Question - Accounts receivable turnover and days' sales in receivables - For two recent years, Robinhood Company reported the following:

	20Y9	20Y8
Sales	$8,505,000	$7,072,500
Accounts receivable:
Beginning of year	640,000	590,000
End of year	620,000	640,000

Required -

a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place.

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?

Reference no: EM133105413

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Determine the days sales in receivables

Reference no: EM133105413

Reference no: EM133105413

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