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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: a. Accounts receivable at the beginning of the year
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: a. Accounts receivable at the beginning of the year are $380. The company has a 45day 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.): 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.) 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.)
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