Trapp Co. was organized on August 1 of the current year. Projected sales for the first three months are: August - $100,000; September - $185,000; October $225,000. The company expects to sell 40% of its merchandise for cash. Of the sales on account, one-third is expected to be collected in the month of the sale and the remainder in the following month. What would be the amount of the sales on account for the month of September? $20,000 $111.000 $74.000 $185,000 Trapp Co. was organized on August 1 of the current year. Projected sales for the first three months are: August - $100,000; September $185,000; October $225,000. The company expects to sell 40% of its merchandise for cash. Of the sales on account, one-third is expected to be collected in the month of the sale and the remainder in the following month. What would be the amount collected from accounts receivable in the month of August from the August sales on account (credit sales for August x.333)? $0 $100,000 $19,980 $60,000 Trapp Co. was organized on August 1 of the current year. Projected sales for the first three months are: August - $100,000; September - $185,000; October $225,000. The company expects to sell 40% of its merchandise for cash. Of the sales on account, one-third is expected to be collected in the month of the sale and the remainder in the following month. What would be the amount collected from accounts receivable in the month of September from the September sales on account (credit sales for September x.333)? $0 $185.000 $111,000 $36,963 Trapp Co. was organized on August 1 of the current year. Projected sales for the first three months are: August - $100,000; September - $185,000; October $225,000. The company expects to sell 40% of its merchandise for cash. Of the sales on account, one-third is expected to be collected in the month of the sale and the remainder in the following month. What would be the total amount collected from accounts receivable in the month of September [(credit sales for September x.333)+( credit sales for August x.667)]? $0 $76,983 $111,000 $185,000