Business, 05.05.2020 06:06 dokithefursona

Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows:

August $109,000
September $136,000
October $199,000

The Accounts Receivable balance on July 31, 2016, was $73,000.
Required:
Prepare a schedule of cash collections from sales for August, September, and October. Round all calculations to the nearest whole dollar.

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Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 2...

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