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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
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?
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