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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $670 $700 $780 $850

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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $670 $700 $780 $850 a. Accounts receivable at the beginning of the year are $290. 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.); Q1 Q2 Q3 Q4 290.00 670.00 700.00 780.00 Beginning receivables Sales Cash collections Ending receivables 850.00 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.) Q1 Q2 Q3 Q4 $ 290.00 670.00 700.00 780.00 850.00 Beginning receivables Sales Cash collections Ending receivables 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 290.00 670.00 700.00 780.00 850.00 Beginning receivables Sales Cash collections Ending receivables

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