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:
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  ​
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 CoWas Organized on August 1 of the Current Year