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The Moming Jolt Coffee Company has projected the following quarterly sales amounts for the coming year Q1 Q2 Q3 Q4 Sales 660 690 770 840
The Moming Jolt Coffee Company has projected the following quarterly sales amounts for the coming year Q1 Q2 Q3 Q4 Sales 660 690 770 840 a. Accounts receivable at the beginning of the year are $280. The company has a 45-day collection period Calculate cash collections in each of the four quarters by completing the following (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places, e.g., 32.16.) Q1 Q2 Q3 Q4 Beginning receivables Sales Cash collections 660.00 690.00 770.00 840.00 Ending receivables b. Recalculate the cash collections with a collection period of 60 days. (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places, e.g., 32.16.) Q3 Q4 Beginning receivables Cash collections Ending receivables 660.00 690.00 770.00 840.00 c. Recalculate the cash collections wth a collection period of 30 days. (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places, e.g., 32.16.) Q1 Q2 Q3 Q4 Beginning receivables Sales Cash collections 660.00 690.00 770.00 840.00 Ending receivables
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