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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 $850 $880 $960 $1,040 a. Accounts receivable at the beginning of the year are $365. 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. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.): Q1 Q2 Beginning receivables $ Sales 365.00 850.00 Cash collections Ending receivables 880.00 Q3 960.00 Q4 1,040.00 b. Recalculate the cash collections with a collection period of 60 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Q1 Beginning receivables Sales Cash collections Ending receivables 850.00 Q2 880.00 Q3 960.00 Q4 1,040.00 c. Recalculate the cash collections with a period of 30 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Beginning receivables Sales Cash collections Ending receivables Q1 850.00 Q2 880.00 Q3 960.00 Q4 1,040.00

The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $850 $880 $960 $1,040 a. Accounts receivable at the beginning of the year are $365. 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. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.): Q1 Q2 Beginning receivables $ Sales 365.00 850.00 Cash collections Ending receivables 880.00 Q3 960.00 Q4 1,040.00 b. Recalculate the cash collections with a collection period of 60 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Q1 Beginning receivables Sales Cash collections Ending receivables 850.00 Q2 880.00 Q3 960.00 Q4 1,040.00 c. Recalculate the cash collections with a period of 30 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Beginning receivables Sales Cash collections Ending receivables Q1 850.00 Q2 880.00 Q3 960.00 Q4 1,040.00

Corporate Fin Focused Approach
Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter16: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 11P
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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 $850 $880 $960 $1,040 a. Accounts receivable at the beginning of the year are $365. 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. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.): Q1 Q2 Beginning receivables $ Sales 365.00 850.00 Cash collections Ending receivables 880.00 Q3 960.00 Q4 1,040.00 b. Recalculate the cash collections with a collection period of 60 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Q1 Beginning receivables Sales Cash collections Ending receivables 850.00 Q2 880.00 Q3 960.00 Q4 1,040.00
Transcribed Image Text:The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $850 $880 $960 $1,040 a. Accounts receivable at the beginning of the year are $365. 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. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.): Q1 Q2 Beginning receivables $ Sales 365.00 850.00 Cash collections Ending receivables 880.00 Q3 960.00 Q4 1,040.00 b. Recalculate the cash collections with a collection period of 60 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Q1 Beginning receivables Sales Cash collections Ending receivables 850.00 Q2 880.00 Q3 960.00 Q4 1,040.00
c. Recalculate the cash collections with a period of 30 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Beginning receivables Sales Cash collections Ending receivables Q1 850.00 Q2 880.00 Q3 960.00 Q4 1,040.00
Transcribed Image Text:c. Recalculate the cash collections with a period of 30 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Beginning receivables Sales Cash collections Ending receivables Q1 850.00 Q2 880.00 Q3 960.00 Q4 1,040.00
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