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The Gruber Company has projected the following quarterly sales amounts for the coming year Q1 Q2 Q3 Q4 Sales $760 $790 $870 $950 a. Accounts

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The Gruber Company has projected the following quarterly sales amounts for the coming year Q1 Q2 Q3 Q4 Sales $760 $790 $870 $950 a. Accounts receivable at the beginning of the year are $350. 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. 32.16. A negative answer should be indicated by a minus slgn.) Answer is not complete. 15 Q1 360.00 5 700.00 Q2 283.33 790.00 15 Q3 248.67 $ 870.00 04 290.00 x 950.00 Beginning receivables Sales Cash collections Ending receivables 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., 32.16. A negative answer should be indicated by a minus sign.) Q1 Q2 Q3 24 700.00 790.00 Beginning receivables Sales Cash collections Ending receivables 870.00 950.00 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. 32.16. A negative answer should be indicated hwminur 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. 32.16. A negative answer should be Indicated by a minus sign.) QI Q2 Q3 Q4 700.00 790.00 870,00 950.00 Beginning receivables Sales Cash collections Ending receivables

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