Solved: The company expects to sell 45 of its merchandise for cash, Accounting Basics

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The company expects to sell 45 of its merchandise for cash

Question - NorthStar Co. was organized on August 1 of the current year. Projected sales for the next three months are as follows:

August 144000

September 212000

October 249000

The company expects to sell 45% of its merchandise for cash. Of the sales on account, 34% are expected to be collected in the month of the sale and the remainder in the following month. How much cash will the company collect in October?

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Accounting Basics: The company expects to sell 45 of its merchandise for cash

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