The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: 04 $ 980 01 $ 750 Beginning receivables Sales Cash collections Ending receivables Sales a. Accounts receivable at the beginning of the year are $335. 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. 02 $ 810 Beginning receivables Sales Cash collections Ending receivables S Beginning receivables Sales Cash collections Ending receivables S Q1 S Q3 $ 890 Q1 335 750 Q1 b. Accounts receivable at the beginning of the year are $335. 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. 335 750 Q2 335 750 Q2 810 Q2 810 Q3 810 Q3 890 c. Accounts receivable at the beginning of the year are $335. 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. Q3 890 Q4 890 Q4 980 Q4 980 980
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: 04 $ 980 01 $ 750 Beginning receivables Sales Cash collections Ending receivables Sales a. Accounts receivable at the beginning of the year are $335. 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. 02 $ 810 Beginning receivables Sales Cash collections Ending receivables S Beginning receivables Sales Cash collections Ending receivables S Q1 S Q3 $ 890 Q1 335 750 Q1 b. Accounts receivable at the beginning of the year are $335. 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. 335 750 Q2 335 750 Q2 810 Q2 810 Q3 810 Q3 890 c. Accounts receivable at the beginning of the year are $335. 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. Q3 890 Q4 890 Q4 980 Q4 980 980
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 33P
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Transcribed Image Text:The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year:
Sales
Q1
$ 750
Beginning receivables
Sales
Cash collections
Ending receivables
Q2
$ 810
a. Accounts receivable at the beginning of the year are $335. 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
S
Beginning receivables
Sales
Cash collections
Ending receivables
S
Q1
S
03
$ 890
Q1
335
750
Q1
04
$ 980
b. Accounts receivable at the beginning of the year are $335. 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.
335
750
Q2
335
750
Q2
810
Q2
810
Q3
810
Q3
890
c. Accounts receivable at the beginning of the year are $335. 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.
Q3
890
Q4
890
Q4
980
Q4
980
980
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