q7 The Cryer Company has projected the following quarterly sales amounts for the

Question

q7

The Cryer Company has projected the following quarterly sales amounts for the coming year: Required: Accounts receivable at the beginning of the year are S4.110. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount (e.g., 32)): Accounts receivable at the beginning of the year are S4.110. The company has a 60-day collection period. Calculate cash collections in each of the four quarters by completing the following (Round your answers to the nearest whole dollar amount (e.g., 32)): Accounts receivable at the beginning of the year are S4.110. The company has a 30-day collection period. Calculate cash collections in each of the four quarters by completing the following (Round your answers to the nearest whole dollar amount (e.g., 32)):

Explanation / Answer

a)

b)

c)

COLLECTION 45 days Quarter 1 Quarter 2 Quarter 3 Quarter 4 Beginning Receivable $4,110 $4,170 $5,055 $4,755 Sales $ 8,340 $10,110 $9,510 $ 8,010 Cash Collection $8,280 $9,225 $9,810 $8,760 Ending Receivable $4,170 $5,055 $4,755 $4,005

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