Smith Company was organized on August 1 of the current year. Projected sales for the next three months are: $250,000 200,000 275,000 August September October The company expects to sell 50% of its merchandise for cash and 50% for sales on account. Of the sales on account, 30% are expected to be collected in the month of the sale and the remainder in the following month. Prepare a schedule indicating cash collections from cash and accounts receivable for the three months