The Litzenberger Company has projected the following quarterly sales amounts for the coming year: Q1 Q2...

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Finance

The Litzenberger Company has projected the following quarterlysales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 790 $ 820 $900 $ 980 a. Accounts receivable at the beginning of the year are$380. The company has a 45-day collection period. Calculate cashcollections in each of the four quarters by completing thefollowing: (Do not round intermediate calculations and round youranswers to 2 decimal places, e.g., 32.16. A negative answer shouldbe indicated by a minus sign.)
Beginning receivables$ Q1 $ Q2 $Q3 $ Q4
Sales Q1 790 Q 820 Q3 900 Q 4 980
Cashcollections
Ending receivables$ $ $ $
b. Recalculate the cash collections with a collection period of60 days. (Do not round intermediate calculations and roundyour answers to 2 decimal places, e.g., 32.16. Anegative answer should be indicated by a minussign.)
Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 790 820 900 980
Cash collections
Ending receivables $ $ $ $
c.
Recalculate the cash collections with a collection period of 30days. (Do not round intermediate calculations and roundyour answers to 2 decimal places, e.g., 32.16. Anegative answer should be indicated by a minussign.)
Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 790 820 900 980
Cash collections
Ending receivables $ $ $ $

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The Litzenberger Company has projected the following quarterlysales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $ 790 $ 820 $900 $ 980 a. Accounts receivable at the beginning of the year are$380. The company has a 45-day collection period. Calculate cashcollections in each of the four quarters by completing thefollowing: (Do not round intermediate calculations and round youranswers to 2 decimal places, e.g., 32.16. A negative answer shouldbe indicated by a minus sign.)Beginning receivables$ Q1 $ Q2 $Q3 $ Q4Sales Q1 790 Q 820 Q3 900 Q 4 980Cashcollections Ending receivables$ $ $ $b. Recalculate the cash collections with a collection period of60 days. (Do not round intermediate calculations and roundyour answers to 2 decimal places, e.g., 32.16. Anegative answer should be indicated by a minussign.)Q1Q2Q3Q4Beginning receivables$$$$Sales790820900980Cash collectionsEnding receivables$$$$c.Recalculate the cash collections with a collection period of 30days. (Do not round intermediate calculations and roundyour answers to 2 decimal places, e.g., 32.16. Anegative answer should be indicated by a minussign.)Q1Q2Q3Q4Beginning receivables$$$$Sales790820900980Cash collectionsEnding receivables$$$$

	Q1		Q2		Q3		Q4
Beginning receivables	$		$		$		$
Sales		790		820		900		980
Cash collections
Ending receivables	$		$		$		$