# Thread: Can someone help me please? Im a little confused on this.

1. ## Can someone help me please? Im a little confused on this.

Wright Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $240,000,$300,000, and $420,000, respectively, for September, October, and November. The company expects to sell 20% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the following month. The cash collections in September from accounts receivable are: How do you this? My teacher never showed us and now he gives us this. 2. Originally Posted by Jluse7 Wright Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are$240,000, $300,000, and$420,000, respectively, for September, October, and November. The company expects to sell 20% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the following month. The cash collections in September from accounts receivable are:

How do you this? My teacher never showed us and now he gives us this.
Geesh...what a mean teacher

September sales: 240,000
Sold for cash: .20(240000) = 48,000
Sales on account: 240000-48000 = 192,000
70% of that will be "received from accounts receivable" ; OK?

3. Thank you so much Wilmer! That helped so much!