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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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