(Answered) 1 pet delight specializes in gourmet pet treatsnbspsales

Finance

1. Pet Delight specializes in gourmet pet treats. Sales estimates in millions for the next two quarters are $500 for 1Q and $600 for 2Q. All sales are made on credit. The company's beginning accounts receivable balance is $250. The company's Days in Receivables is 30 days. Cash collections from Accounts Receivables in 1Q would be estimated to be:

a. $417

b. $250

c. $750

d. $583

e. $167

1. Continuing from above, Pet Delight has a Payables period of 45 days. Purchases are expected to be 50% of next quarter's sales. The company's beginning Accounts Payable balance is $125. Using sales data from problem 10, disbursements during 1Q would be estimated to be:

a. $275

b. $425

c. $725

d. $325

e. $583

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