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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year Q1 Q2 Q3 04 Sales $800 $830 $910 $990

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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year Q1 Q2 Q3 04 Sales $800 $830 $910 $990 a. Accounts receivable at the beginning of the year are $390. The company has a 45 day collection period. Calculate cash collections in each of the four quarters b completing the following (A negative answer should be indicated by a minus sign. Round your answers to 2 decimal places, e.g. 32.16.): Q1 Q2 Q3 04 $ 390.00 800.00 830.00 910.00 990.00 Beginning receivables Sales Cash collections Ending receivables 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.) Q1 Q2 Q3 Q4 GA 390.00 800.00 830.00 Beginning receivables Sales Cash collections Ending receivables 910.00 990.00 c. Recalculate the cash collections with a collection period of 30 days. (A negative answer should be indicated by a minus sign. Round your answers to 2 decimal places, e.g., 32.16.) Q1 Q2 Q3 Q4 390.00 800.00 Beginning receivables Sales Cash collections Ending receivables 830.00 910.00 990.00

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