Tall Guys Clothing Has a 30-Day Collection Period

Tall Guys Clothing has a 30-day collection period. Sales for the next calendar year are estimated at $1,950, $2,100, $2,650 and $3,200, respectively, by quarter, starting with the first quarter of the year. Given this information, which one of the following statements is correct? Assume a year has 360 days.

A) The Quarter 2 collections will be $2,000.
B) The accounts receivable balance at the beginning of Quarter 4 will be $940.
C) The Quarter 3 collections will be $2,375.
D) The end of Quarter 4 accounts receivable balance will be $2,133.
E) The Quarter 4 collections will be $3,017.