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 followingthe sale, and the remainder in the second month following the sale.prepare a schedule indicating cash collections from sales for march, april, and may.