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

March $408,000 April $658,000 May $528,000

a. Assume that Sequoias 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?

- Cash Receipts: ?

- Accounts receivable balance:?

b. Now assume that Sequoias 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?

- Cash Receipts:?

- Accounts receivable balance:?