A firm has projected quarterly credit sales of $16,800, $18,200, $19,400, and $23,500 for the four quarters of next year, respectively. The accounts receivable period is 30 days. What is the amount of the cash collections in quarter 3? Assume a quarter has 90 days.

Select one:

a. $19,000

b. $19,100

c. $18,600

d. $18,700

Answer rating: 100% (QA)

Accounts receivables period of 30 days implies in a given quarte... View the full answer