Question: Problems 1 and 2: Calculating Cash Collections. The Tenzing Tea Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3
Problems 1 and 2: Calculating Cash Collections. The Tenzing Tea Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales 3,200 4,600 5,800 6,100 Problem 1; Accounts receivable at the beginning of the year are $ 900.00. Tenzing has a 30 - day collection period. Calculate cash collections in each of the 4 quarters by completing the following: Q1 Q2 Q3 Q4 Beginning receivables 900 Sales 3,200 4,600 5,800 6,100 Cash Collections Ending Receivables 1a. Cash collections for Q1 are $__________. 1a. Points: 2.5 1b. Cash collections for Q2 are $__________. 1b. Points: 2.5 1c. Cash collections for Q3 are $__________. 1c. Points: 2.5 1d. Cash collections for Q4 are $__________.
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