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Toups Paddleboards has a 30-day collection period. Sales for the next calendar year...

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Accounting

Toups Paddleboards has a 30-day collection period. Sales for the next
calendar year are estimated at $1,950, $2,100, $2,650 and $3,200,
respectively, by quarter, starting with the first quarter of the year. Given
this information, which one of the following statements is correct?
Assume a year has 360 days.
Multiple Choice
The Quarter 2 collections will be $2,000.
The accounts receivable balance at the
beginning of Quarter 4 will be $940.
The Quarter 3 collections will be $2,375.
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