The following data is related to the two questions that follow. A company has the following budgeted sales in each quarter of the year 2024: Cash collection information is as follows: 1. Of all sales, 70% are on credit. 2. 60% of credit sales are collected in the quarter in which the sale is made; 30% are collected in the following quarter; and 10% are collected in the second quarter after the sale. 3. Accounts Receivable is estimated to be $76,000 on December 31,2023 . The company expects to collect all outstanding receivables in the first quarter of 2024. Q. What is the total cash collection for the second quarter of 2024 ? Answer. Q. What is the ending balance of Accounts Receivable for 2024? Answer. The following data is related to the two questions that follow. A company has the following budgeted sales in each quarter of the year 2024: Cash collection information is as follows: 1. Of all sales, 70% are on credit. 2. 60% of credit sales are collected in the quarter in which the sale is made; 30% are collected in the following quarter; and 10% are collected in the second quarter after the sale. 3. Accounts Receivable is estimated to be $76,000 on December 31,2023 . The company expects to collect all outstanding receivables in the first quarter of 2024. Q. What is the total cash collection for the second quarter of 2024 ? Answer. Q. What is the ending balance of Accounts Receivable for 2024