Question: Average collection cycle . Use the following account information for Rian Company. 2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 12/31/13 Change

Average collection cycle.

Use the following account information for Rian Company.

2013 and 2014 Selected Balance Sheet Accounts of Rian Company

12/31/14

12/31/13

Change

Accounts receivable

$40,166

$48,799

$8,633

Inventory

$59,045

$63,592

$4,547

Accounts payable

$28,390

$26,602

$1,788

2014 Selected Income Statement Items for Rian Company

Cash sales

$391,000

Credit sales

$649,000

Total sales

$1,040,000

Cost of goods sold

$591,413

Rian Company had set a target of 23.3 days for the collection cycle for 2014. If total sales had remained at $1,040,000, how much of the sales revenue would have needed to be cash sales for the company to have met the collection goal?

If total sales had remained at $1,040,000,how much of the sales revenue would have needed to be cash sales for the company to meet the collection goal?

$

(Round to the nearest dollar.)

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