Question
The Jallouk Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $180 $240 $300 $450 a. Accounts
The Jallouk Company has projected the following quarterly sales amounts for the coming year:
Q1 Q2 Q3 Q4
Sales $180 $240 $300 $450
a.Accounts receivable at the beginning of the year are $510. 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 180 240 300 450
Cash collections
Ending receivables $ $ $ $
b.Accounts receivable at the beginning of the year are $510. 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 180 240 300 450
Cash collections
Ending receivables $ $ $ $
c.Accounts receivable at the beginning of the year are $510. 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 180 240 300 450
Cash collections
Ending receivables $ $ $ $
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