Sequoia Furniture Company$$s sales over the past three months, half of which are for cash, were as follows:

March April May

$ $402,000$ $ $652,000$ $ $522,000$

Assume that Sequoia$$s collection period is $60$ days. What would be its cash receipts in May? What would be its accounts receivable balance at the end of May?

Now assume that Sequoia$$s collection period is $45$ days. What would be its cash receipts in May? What would be its accounts receivable balance at the end of May? $1)$ Collection Period is $60$ days Cash Receipts..........

Accounts Receivable Balance.............. $2)$ Collection Period is $45$ days Cash Receipts................. Accounts Receivable Balance $...............$