The MacFarlane Company has projected the following quarterly sales amounts for the coming year:
|
Q1 |
Q2 |
Q3 |
Q4 |
| Sales |
$8,280 |
$10,050 |
$9,450 |
$7,950 |
|
a. Accounts receivable at the beginning of the year are $4,050. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
|
Q1 |
Q2 |
Q3 |
Q4 |
| Beginning receivables |
$ |
$ |
$ |
$ |
| Sales |
8,280 |
10,050 |
9,450 |
7,950 |
| Cash collections |
|
|
|
|
| Ending receivables |
$ |
$ |
$ |
$ |
|
b. Accounts receivable at the beginning of the year are $4,050. The company has a 60-day collection period. Calculate cash collections in each of the four quarters by completing the following: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
|
Q1 |
Q2 |
Q3 |
Q4 |
| Beginning receivables |
$ |
$ |
$ |
$ |
| Sales |
8,280 |
10,050 |
9,450 |
7,950 |
| Cash collections |
|
|
|
|
| Ending receivables |
$ |
$ |
$ |
$ |
|
c. Accounts receivable at the beginning of the year are $4,050. The company has a 30-day collection period. Calculate cash collections in each of the four quarters by completing the following: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
|
Q1 |
Q2 |
Q3 |
Q4 |
| Beginning receivables |
$ |
$ |
$ |
$ |
| Sales |
8,280 |
10,050 |
9,450 |
7,950 |
| Cash collections |
|
|
|
|
| Ending receivables |