LO3 12. Calculating Cash Collections The Doak Company has projected the following quarterly sales amounts for the coming year: Q1 $3,900 Q2 $4,700 03 $4,300 04 $3,600 Sales a. Accounts receivable at the beginning of the year are $1,700. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following: Page 549 Q1 Q2 Q3 Q4 Beginning receivables Sales Cash collections Ending receivables b. Rework part (a) assuming a collection period of 60 days. c. Rework part (a) assuming a collection period of 30 days