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The Litzenberger Company has projected the following quarterly salos amounts for the coming year. Q1 02 $870 Q3 $950 04 $960 Sales $840 a. Accounts

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The Litzenberger Company has projected the following quarterly salos amounts for the coming year. Q1 02 $870 Q3 $950 04 $960 Sales $840 a. Accounts receivable at the beginning of the year are $430. 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 slgn.) Q1 Q2 Q3 Q4 Beginning receivables Sales Cash collections 840.00 870.00 950.00 960.00 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 Cash collections 840.00 870.00 950.00 960.00 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 Beginning receivables $ $ Sales 840.00 870.00 950.00 Q4 $ 960.00 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, 0.g., 32.16. A negative answer should be indicated by a minus sign.) Q1 Q2 Q3 04 Beginning receivables Sales Cash collections 840.00 870.00 950.00 960.00 Ending receivables $ $

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