Question: What is the average collection cycle for Rian Company? Use the below information for solving the question 2008 Selected Income Statement Items for Rian Company

What is the average collection cycle for Rian Company?
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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