Question
The Jallouk Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $270 $330 $390 $540 a. Accounts
The Jallouk Company has projected the following quarterly sales amounts for the coming year:
Q1 | Q2 | Q3 | Q4 | |
Sales | $270 | $330 | $390 | $540 |
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 | Q4 | |
Beginning receivables | $ | $ | $ | $ |
Sales | 270 | 330 | 390 | 540 |
Cash collections | ||||
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 | Q4 | |
Beginning receivables | $ | $ | $ | $ |
Sales | 270 | 330 | 390 | 540 |
Cash collections | ||||
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 | Q2 | Q3 | Q4 | |
Beginning receivables | $ | $ | $ | $ |
Sales | 270 | 330 | 390 | 540 |
Cash collections | ||||
Ending receivables | $ | $ | $ | $ |
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