Question

1d

please show work as well.

thank you

Do all calculations using 9 decimal places, retain the 9 decimal places throughout the calculations, then when you report answers round to 2 decimal places. Examples: If the answer is in years: i.e., 9.5576 report 9.56 years. If the answer is in dollars, i.e., $56.987.555 report to the nearest cent $56,987.56. If the answer is in percentage terms i.e., 10.4478 % report 10.45% If the answer is in times i.e., 4.783 report 4.78 times. You need to be very precise with rounding and reporting. For instance, if the answer is 9 times you must report 9.00, the homework grading program will count 9 as incorrect, it would count 9.0 as incorrect, everything must be carried or rounded to two decimal places. Another example if the answer is $48,000, you must report 48,000.00. Problems 1 and 2: Calculating Cash Collections. The Tenzing Tea Company has projected the following quarterly sales amounts for the coming year: Q4 6,100 Q1 Q2 Q3 3,200 4,600 5,800 Sales Problem 1; Accounts receivable at the beginning of the year are $ 900.00. Tenzing has a 30- day collection period. Calculate cash collections in each of the 4 quarters by completing the following: Q4 Q1 Q2 Q3 Beginning receivables Sales Cash Collections Ending Receivables 900 6,100 5,800 4,600 3,200 2300 1a. Cash collections for Q1 are $3033, 3 Points: 2.5 1a. 1b. Cash collections for Q2 are $33.3 1b. Points: 2.5 1c. Cash collections for Q3 are $400.00 1c. Points: 2.5 1d. Cash collections for Q4 are $ 1d. Points: 2.5 Tenzing has a 45 C000 00

Answer 1

	Q1	Q2	Q3	Q4
Beginning receivbales	900.00	1,066.67	1,533.33	1,933.33
Sales	3,200.00	4,600.00	5,800.00	6,100.00
Cash Collection (Beginning Receviable + Sales *2/3)	3,033.33	4,133.33	5,400.00	6,000.00
Ending receivables (Sales *1/3)	1,066.67	1,533.33	1,933.33	2,033.33

Answer is $6000 for Q4