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Kennedy's has the following estimated quarterly sales for next year. Projected first quarter sales $11,400, second quarter $13,200, third quarter $15,800 & fourth quarter $12,700.

Kennedy's has the following estimated quarterly sales for next year. Projected first quarter sales $11,400, second quarter $13,200, third quarter $15,800 & fourth quarter $12,700. The accounts receivable period is 70 days. What is the expected accounts receivable balance at the end of the second quarter? Assume each month has 30 days. A. $4,400 B. $5,600 C. $10,267 D. $12,000 E. $13,200

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