Question: i need typed answer with explanation and don't use ai bot. Sequoia Furniture Company's sales over the past three months, half of which are for

i need typed answer with explanation and don't use ai bot.

Sequoia Furniture Company's sales over the past three months, half of which are for cash, were as follows: March April May $ 670,eee $ 540,080 1. Assume that Sequoia's collection period is 60 days. What would be its cash receipts in May? What would be its accounts receivable balance at the end of May? 2. Now assume that Sequoia's collection period is 45 days. What would be its cash receipts in May? What would be its accounts receivable balance at the end of May? 1. Collection period is 60 days Cash recoipls 480,000 Accounts receivable balance $ 605,000 2. Collection period is 45 days Cash receipts Accounts receivable balance

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