Your company has beginning accounts receivable of $500 and an average collection period of 30 days. Cost of inventory is 50% of the next quarter's sales. The firm has beginning payables of $300 and a payables period of 45 days. The company has the following sales forecasts for each quarter this year: Q1 Q2 Q3 Q4 sales 1,200 1.800 1,500 2,100 total cash collections Calculate cash collections for Quarter 3. $1,200 $1,000 O $1,600 O $1,400 O $1,300