2. Refer to the customer sales mix in Exhibit 28.1 and the monthly sales forecasts given in Exhibit 28.2. Assume that these amounts are realized, and that the firms customers pay exactly as predicted in Exhibit 28.4.

a. What are the accounts receivables balances and average collection period at the end of March and at the end of June? (Based on the proportion of sales of each customer and receivable collection patterns, and the monthly level of sales, you can derive the accounts receivables at the end of any month, including March and June. To get the average daily sales for March, add the first 3 months of sales and divide by 180 days, do the same for June)

b. Does the ACP show that customers have changed their payment behavior?

c. Show the aging schedule for all the customers (0-30 days, 30-60 days, 60-90 days) for each customer and the total at the end of March and June and determine if customers have changed their behavior.