Calculating Cash Collections. The Maynard Company has projected the following quarterly sa...

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

a. Accounts receivable at the beginning of the year are $240. Maynard has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following:

b. Rework (a) assuming a collection period of 60 days.

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