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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.)
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