Constellation Brands has a 45 day collection period. Sales for the next four quarters are estimated...

Constellation Brands has a 45 day collection period. Sales for the next four quarters are estimated at $8,400, $8,800, $8,200, and $9,000, respectively, starting with the first quarter of the year. Given this information, which one of the following statements is correct? Assume a 360 day year.

		The firm will have an accounts receivable balance of $4,100 at the end of the year.
		The accounts receivable balance at the beginning of Quarter 4 will be $4,000.
		The firm will collect $4,500 from Quarter 2 sales in Quarter 3.
		The firm will collect $4,000 in Quarter 1.
		The firm will collect a total of $8,600 in Quarter 4.

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jeff jeffy answered 1 day ago

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Constellation Brands has a 45 day collection period. Sales for the next four quarters are estimated...

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