Dora Distribution has projected the following quarterly sales. The accounts receivable at the beginning of the...

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Dora Distribution has projected the following quarterly sales. The accounts receivable at the beginning of the...

Dora Distribution has projected the following quarterly sales. The accounts receivable at the beginning of the year is $950 and the collection period is 60 days. What are collections for the first quarter? Q1 Q2 Q3 Q4 Sales $ 1,545 $ 1,685 $ 1,955 $ 2,055 ________________________________________n

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Answer 1

Answer #1

Sales in the first Quarter = $1,545

Beginning accounts receivable = $950

Collections in the first quarter = $950 + [$1,545 * (90 - 60) / 90]

Collections in the first quarter = $950 + $515

Collections in the first quarter = $1,465

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Answer 2

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Dora Distribution has projected the following quarterly sales. The accounts receivable at the beginning of the...

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