Question: The Litzenberger Company has projected the following quarterly sales amounts for the coming year: a. Accounts receivable at the beginning of the year are $310.

The Litzenberger Company has projected the following quarterly sales amounts for the coming year:

a. Accounts receivable at the beginning of the year are $310. Litzenberger has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following:

The Litzenberger Company has projected the following quarterly sales amounts

b. Rework (a) assuming a collection period of 60 days.

c. Rework (a) assuming a collection period of 30days.

Qi Q3 04 Sales $740 $810 $780 $940 Ql 03 04 Beginning receivables Sales Cash collections Ending receivables

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