Question

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

Q1 | Q2 | Q3 | Q4 | |

Beginning Receivable | $335 | |||

Sales | $740 | $840 | $910 | $970 |

Cash Collection | ||||

Ending Receivables |

Please show working, thank you.

Answer #1

Calculate the cash collection each year as follows:

Formulas:

Note: 1/2 is calculated by using 45 days is collection period and 90 days in a quarter. 1/2(45/90).

The MacFarlane Company has projected the following quarterly
sales amounts for the coming year:
Q1
Q2
Q3
Q4
Sales
$5,600,000.00
$4,900,000
$4,200,000
$6,400,000
Accounts receivable at the beginning
of the year are $2,100,000. The company has a 30-day collection
period. Calculate cash collections in each of the four quarters by
completing the following:
Q1
Q2
Q3
Q4
Beginning Receivables
Sales
Cash collections
Ending receivables
Note: Must show work

The Morning Jolt Coffee Company has projected the following
quarterly sales amounts for the coming year:
Q1
Q2
Q3
Q4
Sales
$
660
$
690
$
770
$
840
a.
Accounts receivable at the beginning of the year are $280. The
company has a 45-day collection period. Calculate cash collections
in each of the four quarters by completing the following
(Negative amounts should be indicated by a minus
sign. Round your answers to 2 decimal places,
e.g., 32.16.):
Q1
Q2...

The Morning Jolt Coffee Company has projected the following
quarterly sales amounts for the coming year:
Q1
Q2
Q3
Q4
Sales
$
750
$
780
$
860
$
940
a.
Accounts receivable at the beginning of the year are $340.
Morning Jolt has a 45-day collection period. Calculate cash
collections in each of the four quarters by completing the
following (Negative amounts should be indicated by a minus
sign. Round your answers to 2 decimal places.
(e.g., 32.16)):
Q1
Q2...

The Gruber Company has projected the following quarterly sales
amounts for the coming year:
Q1
Q2
Q3
Q4
Sales
$
770
$
800
$
880
$
960
a.
Accounts receivable at the beginning of the year are $360. 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 2 decimal places, e.g., 32.16. A negative answer should
be indicated by...

Q1
Q2
Q3
Q4
Beginning receivables
900
Sales
3200
4600
5800
6100
Cash Collections
Ending Receivables
Problem 1: Accounts receivable at the beginning
of the year are $900. Tenzing has a 45-day
collection period. Calculate cash collections for Q1,
Q2, Q3, Q4 Rounding to 2nd decimal place.
Problem 2: Accounts receivable at the beginning
of the year are $900. Tenzing has a 90-day
collection period. Calculate cash collections for Q1,
Q2, Q3, Q4 Rounding to 2nd decimal place.
thank you

Accounts receivable at the beginning of the year are $900.
Tenzing has a 45-day collection period. Calculate cash collections
in each of the 4 quarters by completing the following:
Q1
Q2
Q3
Q4
Beginning receivables
900
Sales
3200
4600
5800
6100
Cash Collections
Ending Receivables
Calculate Cash Collections for Q1, Q2, Q3, Q4 rounding to second
decimal

Brunell Products has projected the following sales for the
coming year: Q1 Q2 Q3 Q4 Sales $570 $660 $810 $750 Sales in the
year following this one are projected to be 20 percent greater in
each quarter. Calculate payments to suppliers assuming that the
company places orders during each quarter equal to 20 percent of
projected sales for the next quarter. Assume that the company pays
immediately. a. What is the payables period in this case? (Do not
round intermediate...

Calculating Cash Collections
Problem 1 Accounts receivable at the beginning of the year are
$900. Tenzing has a 30-day collection period. Calculate cash
collections in each of the 4 quarters by completing the
following:
Problem 2 a-d; Accounts receivable at the beginning of the year
are $900. Tenzing has a 45-day collection period. Calculate cash
collections in each of the 4 quarters by completing the
following:
Q1
Q2
Q3
Q4
Beginning receivables
900
Sales
3200
4600
5800
6100
Cash Collections...

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following quarter's sales and has a 60-day payables period. What is
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Calculating Payments. Palladium Catalysis has
projected the following sales for the coming year:
Q1
Q2
Q3
Q4
Sales
9,300
12,100
17,000
16,800
Sales in the year following this one are projected to be 12%
greater in each quarter
Calculate payments to suppliers assuming that Palladium
Catalysis places orders during each quarter equal to 25% of
projected sales for the next quarter. Assume that Palladium pays
immediately.
Problem 1: Calculate Payment of accounts for Q1 threw
Q4.
Problem 2: Rework assuming...

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