Cash Collections Calculations
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The L. Company has projected the following quarterly sales amounts for the coming year:
Q1 Q2 Q3 Q4
Sales: $800 $760 $940 $870
A. Accounts receivable at the beginning of the year are $300. L. Company has a 45-day collection period. Calculate cash collection in each of the four quarters by completing the following:
Q1 Q2 Q3 Q4
Beginning Receivable
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 the cash collections given a collection period.
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