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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 $840 $870 $950 $960

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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 $840 $870 $950 $960 a. Accounts receivable at the beginning of the year are $430. 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.): x Answer is complete but not entirely correct. Q1 Q3 $ $ Beginning receivables Sales Cash collections Ending receivables 430.00 840.00 420.00 850.00 Q2 420.00 870.00 435.00 855.00 $ 435.00 950.00 475.00 910.00 $ 94 475.00 960.00 480.00 955.00 X $ Answer is complete but not entirely correct. Q2 Q3 $ Beginning receivables Sales Cash collections Ending receivables Q1 430.00 $ 840.00 560.00 710.00 $ 560.00 870.00 580.00 850.00 580.00 950.00 633.00 897.00 Q4 633.00 960.00 640.00 953.00 $ 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.) Answer is complete but not entirely correct. Q1 Q4 $ Beginning receivables Sales Cash collections Ending receivables 430.00 $ 840.00 280.00 X 990.00 $ Q2 280.00 $ 870.00 290.00 860.00 Xs Q3 290.00 950.00 317.00 923.00 317.00 960.00 320.00 X 957.00 $ S

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