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 of collections from sales for August, September, and October.
Schedule of Collections of Sales
For the Three Months Ending October 31
Collections of accounts receivable:
August credit sales
September credit sales.
October credit sales
Answer rating: 100% (QA)
SOLUTION To prepare the schedule of collections from sales for August September and October we needView the full answer