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Need help with homework. Want answers ONLY please. The ones I got wrong are marked in red. I don't understand why they're wrong. The MacFarlane
Need help with homework. Want answers ONLY please. The ones I got wrong are marked in red. I don't understand why they're wrong.
The MacFarlane Company has projected the following quarterly sales amounts for the coming year:
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The MacFarlane Company has projected the following quarterly sales amounts for the coming year Q1 $7,890 Q2 $9,690 Q3 $9,090 Q4 $7,590 Sales a. Accounts receivable at the beginning of the year are $3,690. 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 Q3 Q4 3945S 8790 4845 3690S 4845S Beginning receivables Sales Cash collections 9,090 9390 4545 $ 4545 8340 3795 9.690 7,590 7,890 7635 3945$ Ending receivables b. Accounts receivable at the beginning of the year are $3,690. 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.) Q1 Q3 Q4 Beginning receivables Sales Cash collections 3690S 6294 5286 5286 $ 8484 6492 6090 8595 5085 6492 9,090 9492 7,890 9.690 7,590 Ending receivables 6090 $ c. Accounts receivable at the beginning of the year are $3,690. 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 Q3 Q4 3690S 8897 2683 3295 S 3091 , Beginning receivables Sales Cash collections 2683 9,090 9294 3091 $ 7,890 9.690 7,590 8100 25818 9078 Ending receivables 3295Step by Step Solution
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