Question: Calculate Rian Companys average accounts payable cycle. Use the below information for solving the question 2008 Selected Income Statement Items for Rian Company Cash Sales

Calculate Rian Company€™s average accounts payable cycle.
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 Accounts of RianCompany

12/31/07 12/31/0S $38,000 S46,000 $8,000 S55,000 S59,000 S4,000 S27,000 S25,000 S2,000 Change Accounts Receivable Inventory Accounts Payable

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