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Use the following account information to calculate Rian Company's
average accounts payable cycle.
2013 and 2014 Selected Balance Sheet Accounts of Rian Company
2014 Selected Income Statement Items for Rian Company
Cash sales
$539000
Credit sales
$664000
Total sales
$1203000
Cost of goods sold
$632489
P13-8 (similar to)
Average accounts payable cycle.
Use the following account information for Rian Company.
2013 and 2014 Selected Balance Sheet Accounts of Rian Company
Rian Company had set a target of 16.6 days for its payment (accounts
payable) cycle. What would the ending balance in the accounts payable
account for 2014 have needed to be to reach this target (holding all other
accounts the same)?