Problem:
Using the following information, compute the Days in Accounts Receivable amounts for the end of each quarter:
Accounts Receivable Month Revenues at End of Quarter
January $350,000 $275,000
February 375,000 290,000
March 225,000 200,000
1st Quarter Total $950,000 $765,00
April $300,000 $270,000
May 320,000 310,000
June 400,000 320,000
2nd Quarter Total $1,020,000 $900,000
July $350,000 $335,000
August 275,000 250,000
September 200,000 150,000
3rd Quarter Total $825,000 $735,000
October $310,000 $300,000
November 425,000 285,000
December 290,000 240,000
4th Quarter Total $1,025,000 $825,000