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The Maynard Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $240 $300 $360 $510 Required: (a)

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

Q1 Q2 Q3 Q4
Sales $240 $300 $360 $510

Required:
(a)

Accounts receivable at the beginning of the year are $450. Maynard has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following (Do not include the dollar signs ($). Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations.

Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 240 300 360 510
Cash collections
Ending receivables $ $ $ $

(b)

Accounts receivable at the beginning of the year are $450. Maynard has a 60-day collection period. Calculate cash collections in each of the four quarters by completing the following (Do not include the dollar signs ($). Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations. Round your answers to the nearest dollar amount (e.g., 32)):

Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 240 300 360 510
Cash collections
Ending receivables $ $ $ $

(c)

Accounts receivable at the beginning of the year are $450. Maynard has a 30-day collection period. Calculate cash collections in each of the four quarters by completing the following (Do not include the dollar signs ($). Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations. Round your answers to the nearest dollar amount (e.g., 32)):

Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 240 300 360 510
Cash collections
Ending receivables $ $ $ $

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