1. You have recently joined a retailer of customised chairs as a management accountant. One of your tasks is to calculate the 2021 working capital components.

You have been provided with the following information to support your calculations:

Actual information for the year ending 31 December 2020	$
Sales (all credit sales)	12,300,000
COGS	7,380,000
Debtors	1,450,000

Forecast information for the year ending 31 December 2021
Sales (all credit sales)	$12,450,000
Gross margin	40%
Debtors collection days	65

Based on the information provided, calculate the value of debtors forecast for 31 December 2021. Round your answer to the nearest $'000. Note that debtors collection days are based on average figures for the year.