Problem $26-5$ Calculating Cash Collections

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

Q$1$ Q$2$ Q$3$ Q$4$

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: $($Do not round intermediate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$ A negative answer should be indicated by a minus sign.$)$

b$.$

Recalculate the cash collections with a collection period of $60$ days. $($Do not round intermediate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$ A negative answer should be indicated by a minus sign.$)$

c$.$

Recalculate the cash collections with a collection period of $30$ days. $($Do not round intermediate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$ A negative answer should be indicated by a minus sign.$)$

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