Question
The Jallouk Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $600 $630 $690 $840 a. Accounts
The Jallouk Company has projected the following quarterly sales amounts for the coming year:
| Q1 | Q2 | Q3 | Q4 |
Sales | $600 | $630 | $690 | $840 |
|
a. Accounts receivable at the beginning of the year are $360. 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 |
Beginning receivables | $ | $ | $ | $ |
Sales | 600 | 630 | 690 | 840 |
Cash collections | ||||
Ending receivables | $ | $ | $ | $ |
|
b. Accounts receivable at the beginning of the year are $360. 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 |
Beginning receivables | $ | $ | $ | $ |
Sales | 600 | 630 | 690 | 840 |
Cash collections | ||||
Ending receivables | $ | $ | $ | $ |
|
c. Accounts receivable at the beginning of the year are $360. 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 |
Beginning receivables | $ | $ | $ | $ |
Sales | 600 | 630 | 690 | 840 |
Cash collections | ||||
Ending receivables | $ | $ | $ | $ |
|
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