FIN 419 ASSIST Perfect Education/fin419assist.cofi FIN 419 ASSIST Perfect Education/fin419assist.cofi | Page 35

2013 and 2014 Selected Balance Sheet Accounts of Rian Company
2014 Selected Income Statement Items for Rian Company
Cash sales
Credit sales
Total sales
Cost of goods sold
Rian Company had set a target of 23.2 days for the collection cycle
for 2014. If total sales had remained at $ 965000, how much of the
sales revenue would have needed to be cash sales for the company to
have met the collection goal?
P13-7 (similar to)