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Calculating Cash Collections for Oz-man Company

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The Oz-man Company has projected the following quarterly sales amounts for the coming year:

Sales Q1 $3600 Q2 $3300 Q3 $2400 Q4 $5600

a. Accounts receivable at the beginning of the year are $1800. Oz-man has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following:

Q1 Q2 Q3 Q4
Beginning receivables
Sales
Cash collections
Ending receivables

b. Rework (a) assuming a collection period of 60 days.

c. Rework (a) assuming a collection period of 30 days.

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The solution explains how to calculate cash collections given the collection period.

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