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 $47,152 $71,058 $34,223


Average collection cycle. Use the following account information for Rian Company 2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 $47,152 $71,058 $34,223 12/31/13 $56,746 Change $9,594 $76,339$5,.281 $2,202 Accounts receivable Inventory Accounts payable $32021$2.202 2014 Selected Income Statement Items for Rian Company Cash sales Credit sales Total sales Cost of aoods sold S692.794 If total sales had remained at $1,231,000, how much of the sales revenue would have needed to be cash sales for the company to meet the collection goal? $572,000 $659,000 $1,231,000 (Round to the nearest dollar.)
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
