Calculating Cash Collection s The Litzenberger Company has projected the following quarterly sales amounts for the coming year:

Q1 Q2 Q3 Q4 Sales $740 $810 $780 $940

a. Accounts receivable at the beginning of the year are $310. Litzenberger has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following:

Q1 Q2 Q3 Q4 Beginning receivables Sales Cash collections Ending receivables

b. Rework

(a) assuming a collection period of 60 days.

c. Rework

(a) assuming a collection period of 30 days.