Dora Distribution has projected the following quarterly sales. The accounts receivable at the beginning of the year is $995 and the collection period is 60 days. What are collections for the first quarter? Sales 01 02 03 04 $1,635 $1,730 $2,045 $2,100 Multiple Choice $817.50 $1,540.00 $1,635.00 $1,698.33 $1,812.50