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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%

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 following the sale, 45% are collected in the second month, and 5% prove to be uncollectible. Calculate items:

Sales....... 

August-$500000 

September-$525000 

October-$535,000 

November-$560000

October November

Receipts from cash sales........

Collections from Aug. Credit Sales......

Collections from Sept. Credit Sales.......

Collections from October credit sales....

Total cash collections during the month....

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