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The Morning Jolt Coffee Company has projected the following for the coming year quarterly sales amounts Sales $700 $730 $810 $890 a. Accounts receivable at

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The Morning Jolt Coffee Company has projected the following for the coming year quarterly sales amounts Sales $700 $730 $810 $890 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 (A negative answer should be indicated by a minus sign. Round your answers to 2 decimal places, e.g.32.16.)) Q2 Q3 Q4 Q1 Beginning receivables Sales Cash collections Ending receivables 280.00 700.00 890.00 730.00 810.00 b. Recalculate the cash collections with a collection period of 60 days. (A negative answer should be indicated by a minus sign. Round your answers to 2 decimal places, e.g. 32.16.) Q3 Q1 Q2 280.00 700.00 Beginning recevables s Sales Cash collections Ending receivables 890.00 810.00 730.00 c. Recalculate the cash collections with a collection period of 30 days. (A negative indicated by a minus sign. Round your answers to 2 decimal answer should be places, e.g.. 32.16.) Q2 Q1 Q4 Q3 Beginning receivables Sales Cash collections Ending receivables 280.00 700.00 810.00 730.00 890.00

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