Star co. was organized on august 1 of the current year. projected sales for the next three months are as follows: august $250,000 september 200,000 october 275,000 the company expects to sell 50% of its merchandise for cash. of the sales on account, 30% are expected to be collected in the month of the sale and the remainder in the following month. prepare a schedule indicating cash collections for august, september, and october. star co. schedule of collections of sales for three months ending october 31 august september october sales $250,000 $200,000 $275,000 cash sales credit sales $ $ $ collections of accounts receivable: august credit sales $ $ september credit sales $ october credit sales cash sales total collections $ $ $