Question

Rian Company had a target of twenty days for the collection cycle for the year 2008. If total sales had remained at $970,000, how much of the sales revenue would have needed to be cash sales for the company to meet the collection goal?
Use the below information for solving the question
2008 Selected Income Statement Items for Rian Company
Cash Sales ..... $ 298,000
Credit Sales ...... $ 672,000
Total Sales ..... $ 970,000
Cost of goods sold .. $ 570,000

2007 & 2008 Selected Balance Sheet Accounts of RianCompany


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  • CreatedMay 08, 2014
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