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The Jallouk Company has projected the following quarterly sales amounts for the coming year. Q2 Q3 Q4 Sales $660 $690 $750 $900 a. Accounts receivable
The Jallouk Company has projected the following quarterly sales amounts for the coming year. Q2 Q3 Q4 Sales $660 $690 $750 $900 a. Accounts receivable at the beginning of the year are $420. 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 330 Beginning receivables 480 345 375 690 Sales 660 750 675 825 810 Cash collections 330 345 375 450 Ending receivables b. Accounts receivable at the beginning of the year are $420. 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 480 S 230 Beginning receivables 220 250 Sales 660 750 920 680 730 850 Cash collections 220 230 250 300 Ending receivables c. Accounts receivable at the beginning of the year are $420. 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 440 S 460 Beginning receivables 500 Sales 670 800 Cash collections 460 500 600 Ending receivables
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