The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year 01 Sales $ 210 02 $ 270 Beginning receivables Sales Cash collections Ending receivables a. Accounts receivable at the beginning of the year are $480. 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 s Sales Cash collections Ending receivables Beginning receivables 03. Cash collections Ending receivables 330 Q1 01 of $ 490 01 480$ 210 585 105 $ 480 210 Answer is complete and correct. b. Accounts receivable at the beginning of the year are $480. 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. 480 210 02 105 $ 270 240 135S 03 270 Answer is not complete. 02 135$ 330 300 165 S 03 270 330 c. Accounts receivable at the beginning of the year are $480. 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. Answer is not complete. Q2 03 04 330 04 165 480 405- 240-> 24 480 480
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year 01 Sales $ 210 02 $ 270 Beginning receivables Sales Cash collections Ending receivables a. Accounts receivable at the beginning of the year are $480. 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 s Sales Cash collections Ending receivables Beginning receivables 03. Cash collections Ending receivables 330 Q1 01 of $ 490 01 480$ 210 585 105 $ 480 210 Answer is complete and correct. b. Accounts receivable at the beginning of the year are $480. 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. 480 210 02 105 $ 270 240 135S 03 270 Answer is not complete. 02 135$ 330 300 165 S 03 270 330 c. Accounts receivable at the beginning of the year are $480. 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. Answer is not complete. Q2 03 04 330 04 165 480 405- 240-> 24 480 480
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 10EA: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning...
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