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The Maynard Company has projected the following quarterly sales amounts for the coming year: Q1 $240 Sales Q2 $300 Q3 $360 Q4 $510 Required: (a)Accounts
The Maynard Company has projected the following quarterly sales amounts for the coming year: Q1 $240 Sales Q2 $300 Q3 $360 Q4 $510 Required: (a)Accounts receivable at the beginning of the year are $450. Maynard has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following (Do not include the dollar signs ($). Negative amounts should be indicated by a minus sign) Q2 Q3 Q4 $ Q1 450 240 $ $ Beginning receivables Sales Cash collections $ 300 360 510 Ending receivables $ $ $ $
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