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Accounts receivable at the beginning of the year are $900. Tenzing has a 45-day collection period....

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

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Answer #1

Calculation of cash collection of Tenzing

Particulars            Q1      Q2     Q3      Q4

Cash collection for the previous quarter   900     1600 2300   2900

Cash realised for sales towards the quarter    1600     2300   2900 3050

Cash collection for the period                        2500    3900   5200    5950

Working notes:

It is assumed that sales were made evenly during the quarter

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