Duke's Auto Parts Has a Beginning Receivables Balance on January

question 35

Multiple Choice

Duke's Auto Parts has a beginning receivables balance on January 1^st of $398.Quarterly sales for the year are $427,$502,$479,and $525,starting with the first quarter.The accounts receivable period is 60 days.How much did the firm collect in the second quarter? Assume a 360-day year.

• A)$458.50
• B)$452.00
• C)$477.00
• D)$464.50
• E)$479.50

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