The sales budget for your company in the coming year is based on a quarterly growth rate of 10 percent with the first-quarter sales projection at $225.8 million. In addition to this basic trend, the seasonal adjustments for the four quarters are 0, −$16.8, −$8.8, and $21.8 million, respectively. Generally, 50 percent of the sales can be collected within the quarter and 45 percent in the following quarter; the rest of the sales are bad debt. The bad debts are written off in the second quarter after the sales are made. The beginning accounts receivable balance is $104.8 million. Assuming all sales are on credit, compute the cash collections from sales for each quarter.
Q1 Q2 Q3 Q4
Collected within quarter
Collection from previous quarter
Cash collections from sales