Litzenberger Company has projected the following quaterly sales amounts for the coming year.
Sales Q1= $750, Sales Q2=$840. Sales Q3= $910, Sales Q4= $970
Accounts receivable at the beginning of the year are $335. The company has a 45 day collection period . Calculate the cash collections in each four uaters by completing the following
Please show working, thank you.
Calculate the cash collection each year as follows:
Note: 1/2 is calculated by using 45 days is collection period and 90 days in a quarter. 1/2(45/90).
Get Answers For Free
Most questions answered within 1 hours.