Calculate cash collections in each of the four quarters

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Reference no: EM132014594

King Fisher Aviation has projected the following quarterly sales amounts for the coming year:

Quarter 1 $750

Quarter 2 $820

Quarter 3 $790

Quarter 4 $950

Accounts Receivable at the beginning of the year are $350. King Fisher has a 30 day collection period. Calculate the cash collections in each of the four quarters by completing the following for each quarter.

Beginning receivables

Sales

Cash Collections

Ending Receivables

Rework the Ending Receivables calculation using 45 and 60 days.

Reference no: EM132014594

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