Question
King Fisher Aviation has projected the following quarterly sales amounts for the coming year: Quarter 1$750 Quarter 2$820 Quarter 3$790 Quarter 4$950 Accounts Receivable at
King Fisher Aviation has projected the following quarterly sales amounts for the coming year:
Quarter 1$750
Quarter 2$820
Quarter 3$790
Quarter 4$950
Accounts Receivable at the beginning of the year are $350. King Fisher has a 30 day collection period. Calculate the cash collections in each of the four quarters by completing the following for each quarter.
Beginning receivables
Sales
Cash Collections
Ending Receivables
Rework the Ending Receivables calculation using 45 and 60 days.
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Practical Financial Management
Authors: William R. Lasher
8th edition
1305637542, 978-1305887237, 1305887239, 978-1305637542
