Calculate cash collections in each of the four quarters

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Reference no: EM131307940

The Litzenberger Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 730 $ 760 $ 840 $ 920 a. Accounts receivable at the beginning of the year are $320. Litzenberger 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). Negative amounts should be indicated by a minus sign.) Q1 Q2 Q3 Q4 Beginning receivables $ $ $ $ Sales 730 760 840 920 Cash collections Ending receivables $ $ $ $ b. Recalculate the cash collections with a collection period of 60 days. (Do not round intermediate calculations and round your answers to 2 decimal places (e.g., 32.16). Negative amounts should be indicated by a minus sign.) Q1 Q2 Q3 Q4 Beginning receivables $ $ $ $ Sales 730 760 840 920 Cash collections Ending receivables $ $ $ $ c. Recalculate the cash collections with a collection period of 30 days. (Do not round intermediate calculations and round your answers to 2 decimal places (e.g., 32.16). Negative amounts should be indicated by a minus sign.) Q1 Q2 Q3 Q4 Beginning receivables $ $ $ $ Sales 730 760 840 920 Cash collections Ending receivables $ $ $ $

Reference no: EM131307940

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Calculate cash collections in each of the four quarters : The Litzenberger Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 730 $ 760 $ 840 $ 920 a. Accounts receivable at the beginning of the year are $320. Litzenberger has a 45-day collection period. Cal..

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