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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Sales 01 $ 690 02 $ 720 03
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Sales 01 $ 690 02 $ 720 03 04 $780 $ 930 a. Accounts receivable at the beginning of the year are $450. 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 Q2 690 720 Q3 Q4 780 930 b. Accounts receivable at the beginning of the year are $450. 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. 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 Q1 Q2 690 720 Q3 Q4 780 930 Cash collections Ending receivables c. Accounts receivable at the beginning of the year are $450. 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 690 Q2 720 Q3 780 Q4 930
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