The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 750 $ 810 $ 890 $ 980 Accounts receivable at the beginning of the year are $335. The company has a 45-day collection period. Recalculate the cash collections with a collection period of 30 days. Q1 Q2 Q3 Q4 Beginning receivables Sales 750.00 810.00 890.00 980.00 Cash collections Ending receivables

The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 750 $ 810 $ 890 $ 980 Accounts receivable at the beginning of the year are $335. The company has a 45-day collection period. Recalculate the cash collections with a collection period of 30 days. Q1 Q2 Q3 Q4 Beginning receivables Sales 750.00 810.00 890.00 980.00 Cash collections Ending receivables

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 10EB: My Aunts Closet Store collects 60% of its accounts receivable in the month of sale and 35% in the...

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	Q1	Q2	Q3	Q4
Sales	$ 750	$ 810	$ 890	$ 980

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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 750 $ 810 $ 890 $ 980 Accounts receivable at the beginning of the year are $335. The company has a 45-day collection period. b. Recalculate the cash collections with a collection period of 60 days. Q1 Q2 Q3 Q4 Beginning receivables Sales 750.00 810.00 890.00 980.00 Cash collections Ending receivables
The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 750 $ 810 $ 890 $ 980 Accounts receivable at the beginning of the year are $335. The company has a 45-day collection period. a. Calculate cash collections in each of the four quarters by completing the following: Q1 Q2 Q3 Q4 Beginning receivables Sales 750.00 810.00 890.00 980.00 Cash collections Ending receivables
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