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Average collection cycle. Use the following account information for Rian Company. Click on the icon in order to copy its content into a spreadsheet
Average collection cycle. Use the following account information for Rian Company. Click on the icon in order to copy its content into a spreadsheet 2013 and 2014 Selected Balance Sheet Accounts of Rian Company Accounts receivable 12/31/14 $43,046 12/31/13 Change $52,195 $9,149 Inventory $63,437 $68,504 $5,067 Accounts payable $30,349 $27,970 $2,379 Click on the icon in order to copy its content into a spreadsheet 2014 Selected Income Statement Items for Rian Company Cash sales Credit sales $562,000 $557,000 If total sales had remained at $1,119,000, 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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