Star Co. was organized on August 1 of the current year. Projected sales for the next three months are as follows: The company expects to sell 50% of its merchandise for cash. Of the sales on account, 30% are expected to be collected in the month of the sale and the remainder in the following month.
Prepare a schedule indicating cash collections for August, September, and October.

Question

Star Co. was organized on August 1 of the current year. Projected sales for the next three months are as follows:  The company expects to sell 50% of its merchandise for cash. Of the sales on account, 30% are expected to be collected in the month of the sale and the remainder in the following month.
Prepare a schedule indicating cash collections for August, September, and October.

Quizplus · Accepted Answer

The Answer of Star Co. was organized on August 1 of the current year. Projected sales for the next three months are as follows:  The company expects to sell 50% of its merchandise for cash. Of the sales on account, 30% are expected to be collected in the month of the sale and the remainder in the following month.
Prepare a schedule indicating cash collections for August, September, and October.

Star Co Was Organized on August 1 of the Current Year