## (Solution Download) The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming y

 The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year:

 Q1 Q2 Q3 Q4 Sales \$ 680 \$ 710 \$ 790 \$ 860

 a. Accounts receivable at the beginning of the year are \$260. Morning Jolt has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places. (e.g., 32.16)):

 Q1 Q2 Q3 Q4 Beginning receivables \$ \$ \$ \$ Sales 680.00 710.00 790.00 860.00 Cash collections Ending receivables \$ \$ \$ \$

 b. Recalculate the cash collections with a collection period of 60 days. (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places. (e.g., 32.16))

 Q1 Q2 Q3 Q4 Beginning receivables \$ \$ \$ \$ Sales 680.00 710.00 790.00 860.00 Cash collections Ending receivables \$ \$ \$ \$

 c. Recalculate the cash collections with a collection period of 30 days. (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places. (e.g., 32.16))

 Q1 Q2 Q3 Q4 Beginning receivables \$ \$ \$ \$ Sales 680.00 710.00 790.00 860.00 Cash collections Ending receivables \$ \$ \$ \$

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