Problem IZ Rich Company's experience shows that 20% of its sales are for cash and 80% are on credit. An analysis of credit sales shows that 50% are collected in the month follo sale, 45% are collected in the second month, and 5% prove to be uncollectible. the Calculate August September October November $500,000 $525,000 $535,000 $560,000 October November (1) Receipts from cash sales . (2) Collections from August credit sales... Collections from September credit sales (4) Collections from October eredit sales.. (5) Total cash collections during the month (1 Use the following data to determine the company's cash disbursements for each month of August and September: August September July $24,000 $32,000 $36,000 14,400 $19,200 S21,600 One month after purchase Selling expenses....................- 15% ofsales, paid in the month ofsale Administrative expenses 10% of sales, paid in the month of sale Rent expense$2,400 per month Equipment depreciation.S1,300 per month