Question Content Area Trapp Co was organized on August 1 of the current year Projected sales for the next three months are as follows August $100,000 September 185,000 October 225,000 The company expects to sell 40 of its merchandise for cash Of the sales on account, one third are expected to be collected in the month of the sale and the remainder in the following month Prepare a schedule indicating cash collections of accounts receivable for August, September, and October For each month's sales on account, enter the collection months in chronological order August September October August sales on account Collected in AugustCollected in OctoberCollected in September $ Select Collected in AugustCollected in OctoberCollected in September $ Select September sales on account Collected in AugustCollected in OctoberCollected in September Select Collected in AugustCollected in OctoberCollected in September $ Select October sales on account Collected in AugustCollected in OctoberCollected in September Select Totals $fill in the blank 11 $fill in the blank 12 $fill in the blank 13

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Question: Question Content Area Trapp Co. was organized on August 1 of the current year. Projected sales for the next three months are as follows: August

Question Content Area

Trapp Co. was organized on August 1 of the current year. Projected sales for the next three months are as follows:

August	$100,000
September	185,000
October	225,000

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

Prepare a schedule indicating cash collections of accounts receivable for August, September, and October. For each month's sales on account, enter the collection months in chronological order.

	August	September	October
August sales on account:
Collected in AugustCollected in OctoberCollected in September	$- Select -
Collected in AugustCollected in OctoberCollected in September		$- Select -
September sales on account:
Collected in AugustCollected in OctoberCollected in September		- Select -
Collected in AugustCollected in OctoberCollected in September			$- Select -
October sales on account:
Collected in AugustCollected in OctoberCollected in September			- Select -
Totals	$fill in the blank 11	$fill in the blank 12	$fill in the blank 13

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