Martinque and Son Have a 60 Day Collection Period

Martinque and Son have a 60 day collection period.Sales for the next calendar year are estimated at £1,200, £1,100, £2,300 and £1,800, respectively, by quarter starting with the first quarter of the
Year.Given this information, which one of the following statements is correct? Assume that a year
Has 360 days.

A) The firm will collect £1,133 in Quarter 2.
B) The trade receivables balance at the beginning of Quarter 4 will be £767.
C) The firm will collect £367 from Quarter 2 sales in Quarter 3.
D) The firm will have a trade receivables balance of £1,200 at the end of the year.
E) The firm will collect a total of £1,967 in Quarter 4.