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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming...

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Finance

The Morning Jolt Coffee Company has projected the following quarterly sales 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 cash collections in each of the four quarters by completing the following: (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

b. Recalculate the cash collections with a collection period of 60 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

c. Recalculate the cash collections with a collection period of 30 days. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

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