Question 12 Not yet answered Marked out of 6.00 P Flag question Czar Company was organized on January 1 of the current year. Projected sales for the next three months are as follows: January $400,000 February 300,000 March 500,000 The company expects to sell 40% of its merchandise for cash. Of the sales on account. 40% are expected to be collected in the month of the sale and the remainder in the following month. Prepare a schedule indicating Total Collections for FEBRUARY only. You do not have to prepare a table but show all your calculations. SHOW YOUR CALCULATIONS TO GET ANY CREDIT 7 B I = TII U X2 x2 SS