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  3. william company makes cash (30% of total sales), c

William Company makes cash (30% of total sales), credit card (60% of total sales), and...

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Accounting

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William Company makes cash (30% of total sales), credit card (60% of total sales), and account (10% of total sales) Sales. Credit card sales are collected in the month following the sale, net a 1% credit card fee. This means that if the sale is $100, the credit card company's fee is $1, and William receives $99. Account sales are collected as follows. 60% in the first month following the sale, 30% in the second month following the sale. 6% in the third month following the sale, and 4% never collected. The following table identifies the projected sales for the next year. Prepare a statement showing the cash expected each month from the collections from these sales. Begin by calculating the expected from cash sales, then calculate the expected cash collections from credit card sales, collections an account and the total collections in the following steps

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