1. A company has cash turnover of 8.11, DI of 60 days, and DP of 55 days. What are the DR for this company?

2. XYZ Company has a 30-day DSO. 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.

The Quarter 3 collections will be $2,375.

The accounts receivable balance at the beginning of Quarter 4 will be $940.

The Quarter 2 collections will be $2,000.

The end of Quarter 4 accounts receivable balance will be $2,133.

The Quarter 4 collections will be $3,017