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

Question

The Cryer Company has projected the following quarterly sales amounts for the coming year:

Accounts receivable at the beginning of the year are $4,140. 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 $4,140. 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 $4,140. 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)):

The Cryer Company has projected the following quarterly sales amounts for the coming year:

Explanation / Answer

a) Statement showing computations Particulars Q1 Q2 Q3 Q4 Beginning Receivables          4,140.00             4,185.00               5,070.00               4,770.00 Sales          8,370.00           10,140.00               9,540.00               8,040.00 Cash Collections : Same Quarter @50%          4,185.00             5,070.00               4,770.00               4,020.00 Previous Quarter @50%          4,140.00             4,185.00               5,070.00               4,770.00 Ending Receivables          4,185.00             5,070.00               4,770.00               4,020.00 b) Statement showing computations Particulars Q1 Q2 Q3 Q4 Beginning Receivables          4,140.00             5,580.00               6,760.00               6,360.00 Sales          8,370.00           10,140.00               9,540.00               8,040.00 Cash Collections : Same Quarter @33.33%          2,790.00             3,380.00               3,180.00               2,680.00 Previous Quarter @66.67%          4,140.00             5,580.00               6,760.00               6,360.00 Ending Receivables          5,580.00             6,760.00               6,360.00               5,360.00 c) Statement showing computations Particulars Q1 Q2 Q3 Q4 Beginning Receivables          4,140.00             2,790.00               3,380.00               3,180.00 Sales          8,370.00           10,140.00               9,540.00               8,040.00 Cash Collections : Same Quarter @66.67%          5,580.00             6,760.00               6,360.00               5,360.00 Previous Quarter @33.33%          4,140.00             2,790.00               3,380.00               3,180.00 Ending Receivables          2,790.00             3,380.00               3,180.00               2,680.00

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