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King Fisher Aviation has projected the following quarterly sales amounts for the coming year:
Quarter 1 $750
Quarter 2 $820
Quarter 3 $790
Quarter 4 $950
Accounts Receivable at the beginning of the year are $350. King Fisher has a 30 day collection period. Calculate the cash collections in each of the four quarters by completing the following for each quarter.
Rework the Ending Receivables calculation using 45 and 60 days.
Fill in the values in the spreadsheet.
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