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The Litzenberger Company has projected the following quarteriy sales amounts for the coming year: 01 $830$860 940 S970 Sales a. Accounts receivable at the beginning
The Litzenberger Company has projected the following quarteriy sales amounts for the coming year: 01 $830$860 940 S970 Sales 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 follaving: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g, 32.16. A negative answer should be indicated by a minus sign.) 01 02 03 Beginning receivables Cash collections Ending receivables 330 940 970 b. Recalculate the cash collections with a collection period of 60 days. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. A negative answer should be indicated by a minus sign.) Q4 B30 Cash collections Ending receivables c. Recalculate the cash collections with a collection period of 30 days. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. A negative answer should be indicated by a minus sign.) 01 Q2 03 04 830 910 970 Cash collections Ending receivables
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