Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported the following: Sales Accounts receivable 20Y8: 20Y9: 20Y9 $7,906,000 600,000 580,000 20Y8 $6,726,000 Beginning of year End of year a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round your answers to one decimal place. 20Y8: 20Y9: 540,000 600,000 b. Determine the days' sales in receivables for 20Y9 and 20Y8. Assume 365 days in a year. Round intermediate calculations and final answers to one decimal place. days days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 20Y8 to 20Y9 favorable or unfavorable?
Accounts receivable tumover and days' sales in receivables For two recent years, Robinhood Company reported the following a. Determine the accounts receivable turnover for 20Y9 and 20VB. Round your answers to one decimal place. 20Y8 20rg b. Determine the days' sales in receivables for 20V9 and 20Ys. Assume 365 days in a year Round intermediate calculations and final answers to one decimal place. 20re: days 20Y9 days c. Are the changes in the accounts receivable turnover and days' sales in receivables from 20 y8 1020 vo foworable or unfavorable
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
