Accounts receivable at the beginning of the year are 1900

Question

Question: Calculating Cash Collections. The MacFarlane Company has projected the following quarterly sales amounts for the coming year:

                    Q1                 Q2               Q3               Q4

Sales          $4,300            $5,200          $4,800          $4,000

a. Accounts receivable at the beginning of the year are $1,900. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following:

                                        Q1           Q2         Q3          Q4

Beginning receivables

Sales

Cash collections

Ending receivables

b. Rework part (a) assuming a collection period of 60 days.

c. Rework part (a) assuming a collection period of 30 days.