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This is one day's worth of sales ($4,000) multiplied by 30 days average collection time, multiplied by the 45% of receivables that are paid by credit card. The information about checks and credit cards is irrelevant, because a receivable is paid whether it is paid by check or by credit card.
This is the amount of receivables from one day of sales. At any one time the receivables from 30 days are outstanding. See the correct answer for a complete explanation.
Since they have $4,000 of sales per day and it takes on average 30 days to collect the cash, at any one time the company should have approximately $120,000 of receivables on the balance sheet ($4,000 × 30). The information about checks and credit cards is irrelevant, because a receivable is paid whether it is paid by check or by credit card. All we need to know is how long on average it takes to collect the receivables.
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