03:18:17 Book Hint rint rences b. Recalculate the cash collections with a collection period of 60 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Beginning receivables Sales Cash collections Ending receivables $ Beginning receivables Sales Cash collections Ending receivables Q1 $ 380.00 790.00 Q1 Q2 380.00 790.00 820.00 c. Recalculate the cash collections with a collection period of 30 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Q2 Q3 820.00 900.00 Q3 Q4 900.00 980.00 Q4 980.00
03:18:17 Book Hint rint rences b. Recalculate the cash collections with a collection period of 60 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Beginning receivables Sales Cash collections Ending receivables $ Beginning receivables Sales Cash collections Ending receivables Q1 $ 380.00 790.00 Q1 Q2 380.00 790.00 820.00 c. Recalculate the cash collections with a collection period of 30 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Q2 Q3 820.00 900.00 Q3 Q4 900.00 980.00 Q4 980.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![2
ts
9
O 03:18:17
eBook
Hint
Print
eferences
b. Recalculate the cash collections with a collection period of 60 days. (A negative
answer should be indicated by a minus sign. Do not round intermediate
calculations and round your answers to 2 decimal places, e.g., 32.16.)
Beginning receivables
Sales
Cash collections
Ending receivables
Beginning receivables
Sales
Cash collections
Ending receivables
Q1
$
380.00
790.00
Q1
Q2
380.00
790.00
820.00
c. Recalculate the cash collections with a collection period of 30 days. (A negative
answer should be indicated by a minus sign. Do not round intermediate
calculations and round your answers to 2 decimal places, e.g., 32.16.)
Q2
Q3
820.00
900.00
Q3
Q4
900.00
980.00
Q4
980.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff47e7944-ba9c-4af9-9e14-2d686262e195%2F0503f68c-3143-40d9-8135-4425a4a78238%2Fe7443nt_processed.png&w=3840&q=75)
Transcribed Image Text:2
ts
9
O 03:18:17
eBook
Hint
Print
eferences
b. Recalculate the cash collections with a collection period of 60 days. (A negative
answer should be indicated by a minus sign. Do not round intermediate
calculations and round your answers to 2 decimal places, e.g., 32.16.)
Beginning receivables
Sales
Cash collections
Ending receivables
Beginning receivables
Sales
Cash collections
Ending receivables
Q1
$
380.00
790.00
Q1
Q2
380.00
790.00
820.00
c. Recalculate the cash collections with a collection period of 30 days. (A negative
answer should be indicated by a minus sign. Do not round intermediate
calculations and round your answers to 2 decimal places, e.g., 32.16.)
Q2
Q3
820.00
900.00
Q3
Q4
900.00
980.00
Q4
980.00
![2
ints
03:18:33
eBook
Hint
Print
References
The Morning Jolt Coffee Company has projected the following quarterly sales amounts
for the coming year:
Q1 Q2 Q3 Q4
Sales $790 $820 $900 $980
a. Accounts receivable at the beginning of the year are $380. The company has a 45-
day collection period. Calculate cash collections in each of the four quarters by
completing the following: (A negative answer should be indicated by a minus
sign. Do not round intermediate calculations and round your answers to 2 decimal
places, e.g., 32.16.)
Beginning receivables
Sales
Cash collections
Ending receivables
Q1
380.00
790.00
Q2
820.00
Q3
900.00
Q4
980.00
b. Recalculate the cash collections with a collection period of 60 days. (A negative
answer should be indicated by a minus sign. Do not round intermediate](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff47e7944-ba9c-4af9-9e14-2d686262e195%2F0503f68c-3143-40d9-8135-4425a4a78238%2Fob574xp_processed.png&w=3840&q=75)
Transcribed Image Text:2
ints
03:18:33
eBook
Hint
Print
References
The Morning Jolt Coffee Company has projected the following quarterly sales amounts
for the coming year:
Q1 Q2 Q3 Q4
Sales $790 $820 $900 $980
a. Accounts receivable at the beginning of the year are $380. The company has a 45-
day collection period. Calculate cash collections in each of the four quarters by
completing the following: (A negative answer should be indicated by a minus
sign. Do not round intermediate calculations and round your answers to 2 decimal
places, e.g., 32.16.)
Beginning receivables
Sales
Cash collections
Ending receivables
Q1
380.00
790.00
Q2
820.00
Q3
900.00
Q4
980.00
b. Recalculate the cash collections with a collection period of 60 days. (A negative
answer should be indicated by a minus sign. Do not round intermediate
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