Question: I have to solve the following problem using the excel document below: King Fisher Aviation has projected the following quarterly sales amounts for the coming
I have to solve the following problem using the excel document below:


King Fisher Aviation has projected the following quarterly sales amounts for the coming year: Quarter 1 $750 Quarter 2 $820 Quarter 3 $790 Quarter 4 $950 Accounts Receivable at the beginning of the year are $350. King Fisher has a 30 day collection period. Calculate the cash collections in each of the four quarters by completing the following for each quarter. Beginning receivables Sales Cash Collections Ending Receivables Rework the Ending Receivables calculation using 45 and 60 days. Fill in the values in the spreadsheet. Input Area: $ 350 30 Beginning A/R a. Collection period b. Collection period C. Collection period 60 21 Os Q2 820 s 23 790 s PP 950 Q2 Q3 04 Sales 750 $ 820 $ 790 $ 950 Output Area: Q2 Q3 Q4 30 -day collection period Q1 Beginning receivables Sales Cash collections Ending receivables 45 Beginning receivables Sales Cash collections Ending receivables 60 Beginning receivables Sales Cash collections Ending receivables
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