Accounts receivable turnover and days’ sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $7,722,000 $6,667,000 Accounts receivable: Beginning of year 590,000 540,000 End of year 580,000 590,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 20Y8: 20Y9: b. Determine the days’ sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place. 20Y8: 20Y9:
Accounts receivable turnover and days’ sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $7,722,000 $6,667,000 Accounts receivable: Beginning of year 590,000 540,000 End of year 580,000 590,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place. 20Y8: 20Y9: b. Determine the days’ sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place. 20Y8: 20Y9:
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter6: Receivables And Inventories
Section: Chapter Questions
Problem 6.9.2MBA
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For two recent years, Robinhood Company reported the following:
| 20Y9 | 20Y8 | |
| Sales | $7,722,000 | $6,667,000 |
| Accounts receivable: | ||
| Beginning of year | 590,000 | 540,000 |
| End of year | 580,000 | 590,000 |
a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place.
20Y8:
20Y9:
b. Determine the days’ sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place.
20Y8:
20Y9:
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