Question
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 330 $ 390
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year:
Q1 | Q2 | Q3 | Q4 | |
---|---|---|---|---|
Sales | $ 330 | $ 390 | $ 450 | $ 600 |
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 | Q3 | Q4 | |
Beginning receivables | ||||
Sales | 330 | 390 | 450 | 600 |
Cash collections | ||||
Ending receivables |
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.
Q1 | Q2 | Q3 | Q4 | |
Beginning receivables | ||||
Sales | 330 | 390 | 450 | 600 |
Cash collections | ||||
Ending receivables |
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.
Q1 | Q2 | Q3 | Q4 | |
Beginning receivables | ||||
Sales | 330 | 390 | 450 | 600 |
Cash collections | ||||
Ending receivables |
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