please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year:SalesQ1$ 720Q2$ 750Q3$ 810Beginning receivablesSalesCash collectionsEnding receivablesa. Accounts receivable at the beginning of the year are $480. The company has a 45-day collection period. Calculate cashcollections in each of the four quarters by completing the following:Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.Q1Q4$ 960720Q2750Q3810Q4960 b. Accounts receivable at the beginning of the year are $480. The company has a 60-day collection period. Calculate cashcollections 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 receivablesSalesCash collectionsEnding receivablesQ1Beginning receivablesSalesCash collectionsEnding receivables720Q1Q2720750Q2c. Accounts receivable at the beginning of the year are $480. The company has a 30-day collection period. Calculate cashcollections 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.Q3750810Q3Q4810960Q4960

Account Receivable is the amount which will be recd. by the company in future from its creditors who…

The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Sales Q1 $ 720 Q2 $ 750 Q3 $ 810 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. Q1 Q4 $ 960 720 Q2 750 Q3 810 Q4 960

The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Sales Q1 $ 720 Q2 $ 750 Q3 $ 810 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. Q1 Q4 $ 960 720 Q2 750 Q3 810 Q4 960

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 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…
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