Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Score: 0 of 10 pts 3 of 6 (1 complete) P13-5 (similar to) Average collection cycle. Use the following account information to find the average

image text in transcribed

Score: 0 of 10 pts 3 of 6 (1 complete) P13-5 (similar to) Average collection cycle. Use the following account information to find the average collection cycle 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 12/31/14 12/31/13 Accounts receivable $42,642 $51,602 Inventory $62,322 $66,916 Accounts payable $31,250 $29,315 Change $8.960 $4,594 $1,935 Click on the icon in order to copy its content into a spreadsheet 2014 Selected Income Statement Items for Rian Company Cash sales $459,000 Credit sales $647,000 What is the average collection cycle for Rian Company? days (Round to one decimal place.) Enter your answer in the answer box and then click Check Answer. All parts showing Clear All

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Trade Union Finance

Authors: Marick F. Masters, Raymond Gibney

1st Edition

1032371382, 978-1032371382

More Books

Students also viewed these Finance questions