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The Litzenberger Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 690 $ 720 $ 800

The Litzenberger Company has projected the following quarterly sales amounts for the coming year:

Q1 Q2 Q3 Q4
Sales $ 690 $ 720 $ 800 $ 870

a.

Accounts receivable at the beginning of the year are $270. 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 2 decimal places, e.g., 32.16. A negative answer should be indicated by a minus sign.)

Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 690.00 720.00 800.00 870.00
Cash collections
Ending receivables $ $ $ $

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.)

Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 690.00 720.00 800.00 870.00
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.)

Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 690.00 720.00 800.00 870.00
Cash collections
Ending receivables $ $ $ $

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