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(1) O'Connor Corporation had December Sales of $30,000; Anticipated Sales during January are $40,000; February Sales are projected at $37,500; 40% of Sales are Cash
(1) O'Connor Corporation had December Sales of $30,000; Anticipated Sales during January are $40,000; February Sales are projected at $37,500; 40% of Sales are Cash Sales; The remainder are on account; Sales on account are expected to be collected 50% in the month of Sale; 45% in the month following the month of Sale; 5% ultimately prove uncollectible. Required: How much are anticipated Cash collections during the month of February?
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