Arvada Heights Inc. has projected the following quarterly sales amounts for the coming year: 01 = $795 ; Q2 = $830 ; Q3= $955; Q4 = $1,100. a. Assuming that accounts receivable at the beginning of the year are $345. Arvada Heights Inc. has a 45- day collection period. Calculate cash collections in each of the four quarters by completing the following: Hint: ACP = 45 days implies that 1/2 of sales are collected in the quarter made and the remaining 1/2 are collected the following quarter. You need to show your calculation of each item below the table. 07 02 03 07 Beginning receivables Sales Cash collections Ending receivables b. Rework (a) assuming a collection period of 30 days. Hint: ACP = 30 days implies that 2/3 of sales are collected in the quarter made and the remaining 1/3 are collected the following quarter You need to show your calculation of each item below the table. 02 Beginning receivables 01 03 04 Sales Cash collections Ending receivables a