Mariota's has annual sales of $552,100 and cost of goods sold of $358,865. The beginning accounts receivable was $45,300 and the ending receivables is $52,000. How many days on average does it take the company to collect its accounts receivable? Assume 365 days per year.

Multiple Choice

29.48 days

29.95 days

11.35 days

34.38 days

32.16 days

Gifts For All has projected sales for next year of:

	Q1	Q2	Q3	Q4
Sales	$ 22,800	$ 25,000	$ 30,100	$ 39,300

Purchases are equal to 58 percent of next quarter's sales. Each month has 30 days, the accounts receivable period is 29 days, and the accounts payable period is 32 days. How much will the company pay suppliers in the third quarter?

Multiple Choice

$16,406

$19,355

$20,897

$14,312

$21,075

Westmore Products has projected the following quarterly sales. The accounts receivable at the beginning of the year is $375 and the collection period is 45 days. What are collections for the first quarter?

	Q1	Q2	Q3	Q4
Sales	$ 650	$ 705	$ 790	$ 1,030

Multiple Choice

$700.00

$591.67

$325.00

$686.67

$650.00