2ts9O 03:18:17eBookHintPrinteferencesb. Recalculate the cash collections with a collection period of 60 days. (A negativeanswer should be indicated by a minus sign. Do not round intermediatecalculations and round your answers to 2 decimal places, e.g., 32.16.)Beginning receivablesSalesCash collectionsEnding receivablesBeginning receivablesSalesCash collectionsEnding receivablesQ1$380.00790.00Q1Q2380.00790.00820.00c. Recalculate the cash collections with a collection period of 30 days. (A negativeanswer should be indicated by a minus sign. Do not round intermediatecalculations and round your answers to 2 decimal places, e.g., 32.16.)Q2Q3820.00900.00Q3Q4900.00980.00Q4980.00 2ints03:18:33eBookHintPrintReferencesThe Morning Jolt Coffee Company has projected the following quarterly sales amountsfor the coming year:Q1 Q2 Q3 Q4Sales $790 $820 $900 $980a. 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 bycompleting the following: (A negative answer should be indicated by a minussign. Do not round intermediate calculations and round your answers to 2 decimalplaces, e.g., 32.16.)Beginning receivablesSalesCash collectionsEnding receivablesQ1380.00790.00Q2820.00Q3900.00Q4980.00b. Recalculate the cash collections with a collection period of 60 days. (A negativeanswer should be indicated by a minus sign. Do not round intermediate

An account receivable is produced when a business offers goods or services on credit or permits…

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

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. 04 $480 Sales 01 $ 210 02 $ 270 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 Sales Cash collections Ending receivables $ Beginning receivables S Sales Cash collections Ending receivables 03 $ 330 Beginning receivables Sales Cash collections Ending receivables Q1 S Q1 480 210 585 105 $ 01 Answer is complete and correct. 480 210 $ 00 480 210 Q2 105 $ 270 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…
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: 01 Sales $ 330 Q2 $ 390 Beginning receivables Sales Cash collections Ending receivables a. Accounts receivable at the beginning of the year are $360. 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 Q3 $ 450 Show Transcribed Text Beginning receivables Sales Cash collections Ending receivables Q1 Q1 Q1 330 04 $ 600 330 b. Accounts receivable at the beginning of the year are $360. 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. 330 Q2 Q2 Q2 390 390 390…
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year 01 02 04 Sales # 330 $390 a. Accounts receivable at the beginning of the year are $360. 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 03 $450 Beginning receivables Sales Cash collections Ending receivables S Beginning receivables Sales Cash collections Ending receivables 01 01 300 330 01 330 b. Accounts receivable at the beginning of the year are $360. 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. 02 330 02 390 Q² 390 03 350 03 450 03 c. Accounts…
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