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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 $ 850 $ 880

The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year:

Q1 Q2 Q3 Q4
Sales $ 850 $ 880 $ 960 $ 930

a.

Accounts receivable at the beginning of the year are $440. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places, e.g., 32.16.):

Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 850.00 880.00 960.00 930.00
Cash collections
Ending receivables $ $ $ $

b.

Recalculate the cash collections with a collection period of 60 days. (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places, e.g., 32.16.)

Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 850.00 880.00 960.00 930.00
Cash collections
Ending receivables $ $ $ $

c.

Recalculate the cash collections with a collection period of 30 days. (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places, e.g., 32.16.)

Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 850.00 880.00 960.00 930.00
Cash collections
Ending receivables $ $ $ $

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