The Morning Jolt Coffee Company has projected the followingquarterly sales amounts for the coming year:
Q1 Q2 Q3 Q4
Sales $ 710 $ 740 $ 820 $ 900
a.
Accounts receivable at the beginning of the year are $290. Thecompany has a 45-day collection period. Calculate cash collectionsin each of the four quarters by completing the following (Negativeamounts should be indicated by a minus sign. Round your answers to2 decimal places, e.g., 32.16.):
Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 710.00 740.00 820.00 900.00
Cash collections
Ending receivables $ $ $ $
b.
Recalculate the cash collections with a collection period of 60days. (Negative amounts should be indicated by a minus sign. Roundyour answers to 2 decimal places, e.g., 32.16.)
Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 710.00 740.00 820.00 900.00
Cash collections
Ending receivables $ $ $ $
c.
Recalculate the cash collections with a collection period of 30days. (Negative amounts should be indicated by a minus sign. Roundyour answers to 2 decimal places, e.g., 32.16.)
Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 710.00 740.00 820.00 900.00
Cash collections
Ending receivables $ $ $ $
