Question

The MacFarlane Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $7,800 $9,600 $9,000 $7,500 a. Accounts receivable at the beginning of the year are $3,600. 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 7,800 9,600 9,000 7,500 Cash collections Ending receivables $ $ $ $ b. Accounts receivable at the beginning of the year are $3,600. 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 7,800 9,600 9,000 7,500 Cash collections Ending receivables $ $ $ $ c. Accounts receivable at the beginning of the year are $3,600. 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 7,800 9,600 9,000 7,500 Cash collections Ending receivables $ $ $ $

Answer 1