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Hayes, Inc. is growing steadily, causing some concerns about its cash flow. The company's estimated sales and purchases for the past three months, plus projected

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Hayes, Inc. is growing steadily, causing some concerns about its cash flow. The company's estimated sales and purchases for the past three months, plus projected sales and purchases for the next three months, are shown below: Actual October November December $ 250,000 $ 275,000 $ 300,000 $ 175,000 $ 200,000 $ 225,000 Forecast January February # $ 325,000 $ 350,000 $ # $ 250,000 $ 275,000 $ Sales Purchases March 400,000 300,000 Half of Hayes' sales are for cash. The company's Average Collection Period from customers is 60 days. It's standard pay terms with suppliers is 30 days. a) What are the company's expected cash receipts in March? b) What would the company's Accounts Receivable balance be at the end of March? c) What are the company's expected cash expenditures for purchases in March? d) What would be the company's Accounts Payable balance at the end of March

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