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The Geller Company has projected the following quarterly sales amounts for the coming year Q1 $690 Q2 $720 Q3 $780 04 $930 Sales a. Accounts recelvable at the beginning of the year are $450. The company hos a 45- day collection period. Calculate cash collections in each of the four quarters by completing the following: (Do not round Intermediate calculatlons and round your answers to the nearest whole number, e.g., 32) Q1 Q2 QS G4 Boginning recelvables Sales 720 780 930 Cash collactions Ending receivables

The Geller Company has projected the following quarterly sales amounts for the coming year Q1 $690 Q2 $720 Q3 $780 04 $930 Sales a. Accounts recelvable at the beginning of the year are $450. The company hos a 45- day collection period. Calculate cash collections in each of the four quarters by completing the following: (Do not round Intermediate calculatlons and round your answers to the nearest whole number, e.g., 32) Q1 Q2 QS G4 Boginning recelvables Sales 720 780 930 Cash collactions Ending receivables

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The Geller Company has projected the following quarterly sales amounts for the coming year Q1 $690 Q2 $720 Q3 $780 94 $930 Sales a. Accounts recelvable at the beginning of the year are $450. The company has a 45- day collection period. Calculate cash collectlons In each of the four quarters by completing the following: (Do not round Intermedlate calculations and round your answers to the nearest whole number, e.g., 32) Q2 04 Boginning recelvables Sales 720 780 930 Cash collections Ending recelvabies b. Accounts recelvable at the beginning of the year are $450. The company hss a 60- day collection period Calculate cash collections In each of the four quarters by completing the following: (Do not round Intermediate colculations and round your answers to the nearest whole number, e.g. 32) Q1 Q2 Q3 04 Beginning receivabies Sales 720 780 930 Cash coliections Ending receivabies c. Accounts recelvable at the beginning of the year are $450. The company has a 30- day collection period. Colculate cash collections In each of the four quarters by completing the following: (Do not round Intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Q2 G4 Beginning racelvables Sales 720 780 930 Cash collections Ending rocaivabies
Transcribed Image Text:The Geller Company has projected the following quarterly sales amounts for the coming year Q1 $690 Q2 $720 Q3 $780 94 $930 Sales a. Accounts recelvable at the beginning of the year are $450. The company has a 45- day collection period. Calculate cash collectlons In each of the four quarters by completing the following: (Do not round Intermedlate calculations and round your answers to the nearest whole number, e.g., 32) Q2 04 Boginning recelvables Sales 720 780 930 Cash collections Ending recelvabies b. Accounts recelvable at the beginning of the year are $450. The company hss a 60- day collection period Calculate cash collections In each of the four quarters by completing the following: (Do not round Intermediate colculations and round your answers to the nearest whole number, e.g. 32) Q1 Q2 Q3 04 Beginning receivabies Sales 720 780 930 Cash coliections Ending receivabies c. Accounts recelvable at the beginning of the year are $450. The company has a 30- day collection period. Colculate cash collections In each of the four quarters by completing the following: (Do not round Intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Q2 G4 Beginning racelvables Sales 720 780 930 Cash collections Ending rocaivabies
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