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.

The correct answer for August is $162,500, for September is $217,500 and for October is $248,750.

Explanation:

According to the scenario, the computation of the given data are as follows:

                    August               September          October  

Sales Amount    $250,000              $200,000                $275,000  

Sales on Credit  $125,000              $100,000                 $137,500  

Sales on Cash   $125,000              $100,000                 $137,500

So collection of cash are as follows:      

Aug.credit sales $37,500               $87,500    

Sep. credit sales                        $30,000                 $70,000  

Oct. credit sales                                                   $41,250  

Total cash    $162,500               $217,500                $248,750

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20