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Category > Business & Finance Posted 20 Jun 2017 My Price 12.00

The Cryer Company has projected the following quarterly sales amounts for the coming year:

The Cryer Company has projected the following quarterly sales amounts for the coming year:

Q1 $7,890

Q2 $9,690

Q3 $9,090

Q4 $7,590

Required:
(a)

Accounts receivable at the beginning of the year are $3,690. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount (e.g., 32)):
  Q1 Q2 Q3 Q4
  Beginning receivables _____$    _____$    ____$    _____$   
  Sales 7,890 9,690 9,090 7,590
  Cash collections            
         
  Ending receivables _____$    _____$    ____$    ____$   
         
 
(b)

Accounts receivable at the beginning of the year are $3,690. The company has a 60-day collection period. Calculate cash collections in each of the four quarters by completing the following (Round your answers to the nearest whole dollar amount (e.g., 32)):
   
  Q1 Q2 Q3 Q4
  Beginning receivables _____$    ____$    _____$    ___$   
  Sales 7,890 9,690 9,090 7,590
  Cash collections            
         
  Ending receivables ____$    ____$    ____$    ____$   
         
 
(c)

Accounts receivable at the beginning of the year are $3,690. The company has a 30-day collection period. Calculate cash collections in each of the four quarters by completing the following (Round your answers to the nearest whole dollar amount (e.g., 32)):
   
  Q1 Q2 Q3 Q4
  Beginning receivables ____$    ____$    _____$    ____$   
  Sales 7,890 9,690 9,090 7,590
  Cash collections            
         
  Ending receivables ____$    _____$    ____$    ____$

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Status NEW Posted 20 Jun 2017 06:06 AM My Price 12.00

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