Question - Moore Company was organized on March 1 of the current year. Projected sales for each of the first three months of operations are as follow: March $240000, April $255000, May $290000. The company expects to sell 20% of its merchandise for cash, Of sales on account, 50% are expected to be collected in the month of the sale, 30% in the month following the sale, and the remainder in the following month. Prepare a schedule indicating cash collections of accounts receivable for March, April, and May.