Use the following information to answer the five questions in the quiz: Door &

Use the following information to answer the five questions in the quiz: Door & Window Co. was organized on August 1 of the current year. Projected sales
for the next three months are as follows:

August- $$120000

September- $200000

October- $230000

1. The company expects to sell 40% of its merchandise for cash. Of the sales on account 25% are expected to be collected in the month of the sale and the
remainder in the following month. What are the total credit sales for August:

a. $120000

b. $72000

c. $48000

d. none of the above

2. What are the total credit sales for October:

a. $92000

b. $120000

c. $138000

d. none of the above

3. What are the total cash collections for August?

a. $120000

b. $72000

c. $48000

d. $66000

4.What are the total cash collections for September?

a. $164000

b. $80000

c. $200000

d. $120000

5. What are the total cash collections for October?

a. $230000

b. $13800

c. $216500

d. $92000