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he Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 680 $ 710

he Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year:

Q1 Q2 Q3 Q4
Sales $ 680 $ 710 $ 790 $ 860

a.

Accounts receivable at the beginning of the year are $260. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following (A negative answer should be indicated by a minus sign.Round your answers to 2 decimal places, e.g., 32.16.):

Q1 Q2 Q3 Q4
Beginning receivables $260.00
Sales 680.00 710.00 790.00 860.00
Cash collections
Ending receivables

b.

Recalculate the cash collections with a collection period of 60 days. (A negative answer should be indicated by a minus sign. Round your answers to 2 decimal places, e.g., 32.16.)

Q1 Q2 Q3 Q4
Beginning receivables $260.00
Sales 680.00 710.00 790.00 860.00
Cash collections
Ending receivables

c.

Recalculate the cash collections with a collection period of 30 days. (A negative answer should be indicated by a minus sign. Round your answers to 2 decimal places, e.g., 32.16.)

Q1 Q2 Q3 Q4
Beginning receivables $260.00
Sales 680.00 710.00 790.00 860.00
Cash collections
Ending receivables

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