The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $830 $860 $940 $970 a. Accounts receivable at the beginning of the year are $420. The company has a 45- day collection period. Calculate cash collections in each of the four quarters by completing the following (A negative answer should be indicated by a minus sign. Round your answers to 2 decimal places, e.g., 32.16.): Q1 Q2 Beginning receivables $ 420.00 Sales 830.00 Cash collections Ending receivables 860.00 Q3 940.00 Q4 970.00

The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $830 $860 $940 $970 a. Accounts receivable at the beginning of the year are $420. The company has a 45- day collection period. Calculate cash collections in each of the four quarters by completing the following (A negative answer should be indicated by a minus sign. Round your answers to 2 decimal places, e.g., 32.16.): Q1 Q2 Beginning receivables $ 420.00 Sales 830.00 Cash collections Ending receivables 860.00 Q3 940.00 Q4 970.00

Intermediate Financial Management (MindTap Course List)

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...

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