2. Question 4 Sequoia Furniture company's sales over the past three months, half of which are for cash, were as follows: MARCH S400,ooo ApRlL $650,000 MAY S520,ooo A. Assume that Sequoia's collection period is 60 days. What would be its cash receipts in May? What would be its accounts receivable at the end of May? May Cash receipts 3585000 May Accounts receivable - $585000 B. Now assume that Sequoia's collection period is 45 days. What would be its cash receipts in May? What would be its accounts receivable at the end of May Cash receipts 3422500 May Accounts receivable - S422500