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5.(b) Arizo Farms' sales, half of which are for cash and the other half sold on credit, over the past three months were: August, 70,000;
5.(b) Arizo Farms' sales, half of which are for cash and the other half sold on credit, over the past three months were: August, 70,000; September, 120,000; October, 80,000. i. Estimate Arizo Farms' cash receipts in October if their collection period is 30 days. [2 point] ii. Estimate Arizo Farms' cash receipts in October if their collection period is 45 days. [2 points] iii. What would be the October balance of accounts receivable for Arizo Farms if the their collection period is 30 days? [3 points] iv. What would be the October balance of accounts receivable for Arizo Farms if the their collection period is 45 days? (3 points]
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