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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Sales $ 210 02 $ 270 Q3 Q4
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Sales $ 210 02 $ 270 Q3 Q4 $ 330 $ 480 a. Accounts receivable at the beginning of the year are $480. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Beginning receivables Sales Cash collections Ending receivables Q1 210 Q2 270 Q3 330 Q4 480 b. Accounts receivable at the beginning of the year are $480. The company has a 60-day collection period. Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Beginning receivables Sales Cash collections Ending receivables Q1 210 Q2 270 Q3 330 Q4 480 Drai MA c. Accounts receivable at the beginning of the year are $480. The company has a 30-day collection period. Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Beginning receivables Sales Cash collections Ending receivables Q1 210 Q2 270 Q3 330 Q4 480
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