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 |
||||
Ending Receivables |
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