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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q 1 Q 2 Q 3 Q 4 Sales

The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year:
Q1 Q2 Q3 Q4
Sales $ 750 $ 810 $ 890 $ 980
Accounts receivable at the beginning of the year are $335. The company has a 45-day collection period.Problem 26-5 Calculating Cash Collections
The Morning Jolt Coffee Company has projected the following quarterly sales amounts
for the coming year:
Accounts recelvable at the beginning of the year are $335. The company has a 45-day
collection period.
a. Calculate cash collections in each of the four quarters by completing the following: (A
negatlve answer should be indicated by a minus sign. Do not round intermediate
calculations and round your answers to 2 decimal places, e.g.,3216.)
b. Recalculate the cash collectlons with a collectlon period of 60 days. (A negative
answer should be indicated by a minus sign. Do not round intermedlate
calculations and round your answers to 2 decimal places, e.g.,3216.)
c. Recalculate the cash collectlons with a collection period of 30 days. (A negatlve
answer should be indicated by a minus sign. Do not round intermedlate
calculations and round your answers to 2 decimal places, e.g.,3216.)
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