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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year Sales 01 $330 02 $390 03 450 04
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year Sales 01 $330 02 $390 03 450 04 6600 a. Accounts receivable at the beginning of the year are $360. 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. Q1 Q2 Beginning receivables S Sales 300 330 Cash collections Ending receivables 390 Q3 450 Q4 600 b. Accounts receivable at the beginning of the year are $360. 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. Beginning receivables Sales Cash collections Ending receivables Q1 330 390 450 600 c. Accounts receivable at the beginning of the year are $360. 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 01 330 Q2 04 390 450 600
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