(Answered) Question calculating cash collections the macfarlane

Finance

Question: Calculating Cash Collections. The MacFarlane Company has projected the following quarterly sales amounts for the coming year:

Q1 Q2 Q3 Q4

Sales $4,300 $5,200 $4,800 $4,000

a. Accounts receivable at the beginning of the year are $1,900. The company 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 part (a) assuming a collection period of 60 days.

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

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