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Any help is much appreciated. The Geller Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 $480 $520
Any help is much appreciated.
The Geller Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 $480 $520 $610 $760 Sales a. Accounts receivable at the beginning of the year are $240. The company has a 45- day collection period. Calculate cash collections in each of the four quarters by completing the following: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Q1 Q4 Q2 Q3 Beginning receivables 610 760 Sales 480 520 Cash collections Ending receivables b. Accounts receivable at the beginning of the year are $240. The company has a 60- day collection period. Calculate cash collections in each of the four quarters by completing the following: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Q2 Q1 Q3 Q4 Beginning receivables Sales 480 520 610 760 Cash collections Ending receivables c. Accounts receivable at the beginning of the year are $240. The company has a 30- day collection period. Calculate cash collections in each of the four quarters by completing the following: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Q1 Q2 Q3 Q4 Beginning receivables 480 520 760 Sales 610 Cash collections Ending receivablesStep by Step Solution
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