Assume each month has 30 days and a company has a 30-day accounts receivable period. During the second calendar quarter of the year, that company will collect payment for the sales it made during which of the following months?
A) February, March, and April
B) April, May and June
C) December, January, and February
D) January, February, and March
E) March, April, and May

Question

Quizplus · Accepted Answer

Given a 30-day accounts receivable period, the company collects payments for sales made 30 days prior. The second calendar quarter includes April, May, and June. Therefore, the company will collect payments for sales made in March, April, and May.

Assume Each Month Has 30 Days and a Company Has