Question
The Jallouk Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $450 $510 $570 $720 a. Accounts
The Jallouk Company has projected the following quarterly sales amounts for the coming year:
Q1 | Q2 | Q3 | Q4 | |
Sales | $450 | $510 | $570 | $720 |
a. Accounts receivable at the beginning of the year are $240. 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 | 450 | 510 | 570 | 720 |
Cash collections | ||||
Ending receivables | $ | $ | $ | $ |
b. Accounts receivable at the beginning of the year are $240. 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 | 450 | 510 | 570 | 720 |
Cash collections | ||||
Ending receivables | $ | $ | $ | $ |
c. Accounts receivable at the beginning of the year are $240. 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 | 450 | 510 | 570 | 720 |
Cash collections | ||||
Ending receivables | $ | $ | $ | $ |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started