Calculating Cash Collections the Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year a Accounts receivable at the beginning of the year are $340 Morning Jolt has a 45 day collection period Calculate cash collections in each of the four quarters by com...

a A 45day collection period implies all receivables outstanding fr ...

Calculating Cash Collections the Morning Jolt Coffee Company has projected the following quarterly sales amounts for the

Question:

Calculating Cash Collections the Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year:

Q1 Q2 Q3 Q4 S870 Sales S840 S780 S950 Q1 Q2 Q3 Q4 Beginning receivables Sales Cash Collections Ending receivables

a. Accounts receivable at the beginning of the year are $340. Morning Jolt has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following.

b. Rework (a) assuming a collection period of 60 days.

c. Rework (a) assuming a collection period of 30 days.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...