The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year:...
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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Sales Q1 $ 300 Q2 Q3 Q4 $ 360 $ 420 $ 570 a. Accounts receivable at the beginning of the year are $390. 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. Beginning receivables Sales Cash collections Ending receivables Q1 300 Q2 360 Q3 420 Q4 570 b. Accounts receivable at the beginning of the year are $390. 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 300 Q2 360 Q3 420 Q4 570 c. Accounts receivable at the beginning of the year are $390. 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 Q1 300 Q2 360 Q3 420 Q4 570 The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Sales Q1 $ 300 Q2 Q3 Q4 $ 360 $ 420 $ 570 a. Accounts receivable at the beginning of the year are $390. 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. Beginning receivables Sales Cash collections Ending receivables Q1 300 Q2 360 Q3 420 Q4 570 b. Accounts receivable at the beginning of the year are $390. 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 300 Q2 360 Q3 420 Q4 570 c. Accounts receivable at the beginning of the year are $390. 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 Q1 300 Q2 360 Q3 420 Q4 570
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