Robert's Cards and Gifts has estimated quarterly sales for next year, starting with Quarter 1, of $43,930, $47,495, $37,835, and $91,655.The accounts receivable period is 13 days.What is the expected accounts receivable balance at the end of the second quarter? Assume each month has 30 days.
A) $6,068.39
B) $13,239.06
C) $6,860.39
D) $6,345.44
E) $5,465.06
Correct Answer:
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