Calaculating Quartely cash collections

2018-01-16 18:26:59

Sorry if this is the wrong place for this financial concept question, it's about the cash budget.

Accounts receivables at the beginning of the year are $345. The company has a 60 day collection period. Calculate cash collection in each of the four quarters.

Q1: 820

Q2: 850

Q3: 930

Q4: 1010

So in the case of a 45 day collection period I know that we must first calculate beginning cash + 1/2 * sales

We multiplied the sales by half because 45 days is a half quarter, so for a 60 day collection period it should be multiplied by 2/3 but that is wrong from what my professor told us as the correct way would be by 1/3.

I'm confused, can someone explain this part for me? Why is it 1/3 and not 2/3? Same thing for a 30 day receivable period.