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Prepare a schedule indicating total cash collections

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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.

Reference no: EM131678801

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