Prepare a schedule of cash collections from sales

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Reference no: EM13820419

Turkey Treats Company makes a product that is popular at Thanksgiving, so its biggest sales month is November. The company’s projected sales for the fourth quarter of this year are: October November December Sales $50,000 $100,000 $40,000 All sales are made on credit, and the company projects that 50% of sales each month will be collected in the month that the sales are made, 30% will be collected in the month following the sales, and 20% will be collected in the second month after the sale. August sales totaled $10,000 and September sales totalled $20,000. Prepare a schedule of cash collections from sales for each month in the fourth quarter.

Reference no: EM13820419

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