The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year.04$480Sales01$ 21002$ 270a. Accounts receivable at the beginning of the year are $480. The company has a 45-day collection period. Calculate cashcollections in each of the four quarters by completing the following:Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.Beginning receivablesSalesCash collectionsEnding receivables$Beginning receivables SSalesCash collectionsEnding receivables03$ 330Beginning receivablesSalesCash collectionsEnding receivablesQ1SQ1480210585105 $01Answer is complete and correct.480210$00480210Q2105 $270b. 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., 32.240135 $03270Answer is not complete.02Q3135330300165 $270330$c. 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.Answer is not complete.Q203Q433004165480405240Q4480480

Collection Period:Usually in a business sales are made on both cash and credit basis. The credit…

The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year 01 Sales $ 210 02 $ 270 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. $ $ Beginning receivables s Sales Cash collections Ending receivables Beginning receivables 03. Cash collections Ending receivables 330 Q1 01 of $ 490 01 480$ 210 585 105 $ 480 210 Answer is complete and correct. b. Accounts receivable at the beginning of the year are $480. 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. 480 210 02 105 $ 270 240 135S 03 270 Answer is not complete. 02 135$ 330 300 165 S 03 270 330 c. Accounts receivable at the beginning of the year are $480. 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. Answer is not complete. Q2 03 04 330 04 165 480 405- 240-> 24 480 480

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1P: Greene Sisters has a DSO of 20 days. The companys average daily sales are 20,000. What is the level...