Question
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 750 $ 810
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year:
Q1 | Q2 | Q3 | Q4 | |
---|---|---|---|---|
Sales | $ 750 | $ 810 | $ 890 | $ 980 |
Accounts receivable at the beginning of the year are $335. 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. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.):
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b. | Recalculate the cash collections with a collection period of 60 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
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