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Accounts receivable at the beginning of the year are $335. The company has a 45 -day collection period. a. Calculate cash collections in each of
Accounts receivable at the beginning of the year are $335. The company has a 45 -day collection period. a. Calculate cash collections in each of the four quarters by completing the following: (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Recalculate the cash collections with a collection period of 60 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
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