(Answered) Question - door amp window co was organized on august 1 of

Accounting

Question - Door & Window Co. was organized on August 1 of the current year. Projected sales for the next three months are as follows:

August $120,000

September 200,000

October 230,000

The company expects to sell 40% of its merchandise for cash. Of the sales on account, 25% are expected to be collected in the month of the sale and the remainder in the following month.

Prepare a schedule indicating total cash collections for August, September, and October.

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