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reliable company specializes in home made biscuits and receives all income from sales.. the sales estimates...

reliable company specializes in home made biscuits and receives all income from sales.. the sales estimates (in million $) for the four quarters are as follows

Q1 = 600, Q2 = 500, Q3 = 550 and Q4 = 640

The average collection period for the accounts receivables is 45 days. Beginning receivables (Q1 beginning) is $300 million. The purchase are 50% of next quarter sales.

Beginning payables (Q1 beginning) is $100 million. The accounts payable period is 45 days. The beginning cash balance (Q1 beginning) is $50 million

So how much will be cash balance at the end of quarter 2 ????

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