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The Doak Company has projected the following quarterly sales amounts for the coming year: Q4 Sales Q1 $3,900 Q2 $4,700 Q3 $4,300 $3,600 Accounts receivable
The Doak Company has projected the following quarterly sales amounts for the coming year: Q4 Sales Q1 $3,900 Q2 $4,700 Q3 $4,300 $3,600 Accounts receivable at the beginning of the year are $1,700, a. 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 Q2 Q3 Q4 3,900 4,700 4,300 3,600 Beginning receivables Sales Cash collections Ending receivables Ending receivables A A A A b. 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 Q2 Q3 Q4 3,900 4,700 4.300 3,600 Beginning receivables Sales Cash collections Ending receivables c. 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 Q2 Q3 Q4 3,900 4,700 4, 300 3 ,600 Beginning receivables Sales Cash collections Ending receivables
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