Final answer:
To find the expected collections in the third quarter, add the total sales from the second quarter to the sales of the first 45 days of the third quarter. Calculate the daily sales rate for the third quarter and multiply by 45 to get the sales collected from the third quarter. The sum of these two amounts is the total collection for the third quarter, but there seems to be a mismatch with the provided answer choices.
Step-by-step explanation:
The question relates to the calculation of expected collections in the third quarter given a 45-day accounts receivable period and estimated quarterly sales figures. Since a year is assumed to have 360 days, each quarter consists of 360/4 = 90 days. A 45-day accounts receivable period means that sales made in the last 45 days of a quarter are collected in the following quarter. Therefore, the collection in the third quarter includes all of the second quarter's sales ($1,400) plus the first 45 days of the third quarter's sales. To determine the sales collected in the first 45 days of the third quarter, we calculate the daily sales rate for the third quarter ($1,900/90 days = $21.11 per day) and multiply it by 45 days, which equals $950. Thus, the total collected in the third quarter will be $1,400 from the second quarter plus $950 from the third quarter, resulting in a total of $2,350. However, this total is not among the provided options, implying that there might be an error in the student's question or the answer choices given.