The company expects to sell 10 of its merchandise for cash

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Pet Mart Wholesale Inc., a pet wholesale supplier, was organized on March 1, 2012. Projected sales for each of the first three months of operations are as follows:

March $90,000

April 150,000

May 240,000

The company expects to sell 10% of its merchandise for cash. Of sales on account, 50% are expected to be collected in the month of the sale, 35% in the month following the sale, and the remainder in the second month following the sale.Prepare a schedule indicating cash collections from sales for March, April, and May.

Reference no: EM13593910

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