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Click on the icon in order to copy its content 2014 Selected Income Statement Items for Rian Company $530,000 $656,000 $1,186,000 $622,184 to a spreadsheet Cash sales Credit sales Total sales Cost of goods sold Rian Company had set a target of 25.1 days for the collection cycle for 2014. If total sales had remained at $1,186,000, how much of the sales revenue would have heeded to be cash sales for the company to have met the collection goal? f total sales had remained at $1,186,000, 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.)

Click on the icon in order to copy its content 2014 Selected Income Statement Items for Rian Company $530,000 $656,000 $1,186,000 $622,184 to a spreadsheet Cash sales Credit sales Total sales Cost of goods sold Rian Company had set a target of 25.1 days for the collection cycle for 2014. If total sales had remained at $1,186,000, how much of the sales revenue would have heeded to be cash sales for the company to have met the collection goal? f total sales had remained at $1,186,000, 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.)

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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**2014 Selected Income Statement Items for Rian Company** - **Cash sales:** $530,000 - **Credit sales:** $656,000 - **Total sales:** $1,186,000 - **Cost of goods sold:** $622,184 Rian Company had set a target of 25.1 days for the collection cycle for 2014. If total sales had remained at $1,186,000, how much of the sales revenue would have needed to be cash sales for the company to have met the collection goal? **Question:** If total sales had remained at $1,186,000, how much of the sales revenue would have needed to be cash sales for the company to meet the collection goal? - **Answer:** $_______ (Round to the nearest dollar.)
Transcribed Image Text:**2014 Selected Income Statement Items for Rian Company** - **Cash sales:** $530,000 - **Credit sales:** $656,000 - **Total sales:** $1,186,000 - **Cost of goods sold:** $622,184 Rian Company had set a target of 25.1 days for the collection cycle for 2014. If total sales had remained at $1,186,000, how much of the sales revenue would have needed to be cash sales for the company to have met the collection goal? **Question:** If total sales had remained at $1,186,000, how much of the sales revenue would have needed to be cash sales for the company to meet the collection goal? - **Answer:** $_______ (Round to the nearest dollar.)
**Average Collection Cycle** Use the following account information for Rian Company. **2013 and 2014 Selected Balance Sheet Accounts of Rian Company** | | 12/31/14 | 12/31/13 | Change | |-----------------|-----------|-----------|---------| | Accounts receivable | $45,863 | $55,385 | $9,522 | | Inventory | $68,458 | $72,920 | $4,462 | | Accounts payable| $32,328 | $30,171 | $2,157 | **2014 Selected Income Statement Items for Rian Company** - Cash sales: $530,000 - Credit sales: $656,000
Transcribed Image Text:**Average Collection Cycle** Use the following account information for Rian Company. **2013 and 2014 Selected Balance Sheet Accounts of Rian Company** | | 12/31/14 | 12/31/13 | Change | |-----------------|-----------|-----------|---------| | Accounts receivable | $45,863 | $55,385 | $9,522 | | Inventory | $68,458 | $72,920 | $4,462 | | Accounts payable| $32,328 | $30,171 | $2,157 | **2014 Selected Income Statement Items for Rian Company** - Cash sales: $530,000 - Credit sales: $656,000
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