Armand Company projects the following sales for the first three months of the year $14,300 in January. $15,900 in February, and $14,100 in March. The company expects 70% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Recervable account has a zero balance on January 1. Round to the nearest dollar

Armand Company projects the following sales for the first three months of the year $14,300 in January; $15,900 in February; and $14,1 are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on Ja Read the requirements Requirement 1. Prepare a schedule of cash receipts for Armand for January, February, and March. What is the balance in Accounts Rec Cash Receints from Customers Requirements 1. Prepare a schedule of cash receipts for Armand for January, February, and March. What is the balance in Accounts Receivable on March 31 ? 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale, 30% in the month following the sale, and 10% in the second month following the sale. What is the balance in Accounts Receivable on March 31