Duke's Auto Parts has a beginning receivables balance on January 1st of $398.Quarterly sales for the year are $427,$502,$479,and $525,starting with the first quarter.The accounts receivable period is 60 days.How much did the firm collect in the second quarter? Assume a 360-day year.
A) $458.50
B) $452.00
C) $477.00
D) $464.50
E) $479.50
Correct Answer:
Verified
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