The Geller Company has projected the following quarterly sales amounts for the coming year: Q1 Q2 Q3 Q4 Sales $750 $780 $840 $990 a. Accounts receivable at the beginning of the year are $510. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following:

a. Cash collections are as follows:

Q1 = $885

Q2 = $765

Q3 = $810

Q4 = $915

b. Cash collections are as follows:

Q1 = $760

Q2 = $760

Q3 = 800

Q4 = 890

c. Cash collections are as follows:

Q1 = $1,010

Q2 = $770

Q3 = $820

Q4 = $940

Explanation:

Note: This question is not complete. The complete question is there provided before answering the question. See the attached pdf for the complete question.

a. Accounts receivable at the beginning of the year are $510. 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 and round your answers to the nearest whole number, e.g., 32.)

Note: See the Part a of the attached excel file for the calculations of cash collections in each of the four quarters.

In the attached excel, the following formulae are used:

Number of days in a quarter = 90

Ratio of sales taken as cash collection = (Number of days in a quarter - Number of days’ collection period) / Number of days in a quarter = (90 - 45) / 90 = 45 / 90 = 1/2

Therefore, 1/2 of each quarter’s sales is taken as cash collection

Cash collection for each quarter = Beginning receivable + (Ratio of sales taken as cash collection * Sales for the quarter)

From the attached excel file, cash collections are as follows:

Q1 = $885

Q2 = $765

Q3 = $810

Q4 = $915

b. Accounts receivable at the beginning of the year are $510. The company has a 60-day collection period. Calculate cash collections in each of the four quarters by completing the following: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

Note: See the Part b of the attached excel file for the calculations of cash collections in each of the four quarters.

In the attached excel, the following formulae are used:

Number of days in a quarter = 90

Ratio of sales taken as cash collection = (Number of days in a quarter - Number of days’ collection period) / Number of days in a quarter = (90 - 60) / 90 = 30 / 90 = 1/3

Therefore, 1/3 of each quarter’s sales is taken as cash collection

Cash collection for each quarter = Beginning receivable + (Ratio of sales taken as cash collection * Sales for the quarter)

From the attached excel file, cash collections are as follows:

Q1 = $760

Q2 = $760

Q3 = 800

Q4 = 890

c. Accounts receivable at the beginning of the year are $510. The company has a 30-day collection period. Calculate cash collections in each of the four quarters by completing the following: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

Note: See the Part c of the attached excel file for the calculations of cash collections in each of the four quarters.

In the attached excel, the following formulae are used:

Number of days in a quarter = 90

Ratio of sales taken as cash collection = (Number of days in a quarter - Number of days’ collection period) / Number of days in a quarter = (90 - 30) / 90 = 60 / 90 = 2/3

Therefore, 2/3 of each quarter’s sales is taken as cash collection

Cash collection for each quarter = Beginning receivable + (Ratio of sales taken as cash collection * Sales for the quarter)

From the attached excel file, cash collections are as follows:

Q1 = $1,010

Q2 = $770

Q3 = $820

Q4 = $940

answer; possession utility;

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