Armand Company projects the following sales for the first three months of the year: $10,600 in January; $16,100 in February; and $11,100 in March. The company expects 80% 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 Receivable account has a zero balance on January 1 . Round to the nearest dollar. Read the requirements. Requirement 1. Prepare a schedule of cash receipts for Armand for January, February, and March. What is the balance in Accounts Receivable on March 31? (If an input field is not used, leave the input field empty. Do not enter a zero.) Armand Company projects the following sales for the first three months of the year: $10,600 in January; $16,100 in February; and $11,100 in March. The company expects 80% 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 Receivable account has a zero balance on January 1 . Round to the nearest dollar. Read the requirements. Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April Requirement 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 70% in the month of the sale, 10% in the month following the sale, and 20% in the second month following the sale. What is the balance in Accounts Receivable on March 31? (If an input field is not used, leave the input field empty. Do not enter a zero.) Requirement 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 70% in the month of the sale, 10% in the month following the sale, and 20% in the second month following the sale. What is the balance in Accounts Receivable on March 31? (If an input field is not used, leave the input field empty. Do not enter a zero.) Cash Receipts from Customers Armand Company projects the following sales for the first three months of the year: $10,600 in January; $16,100 in Armand Company projects the following sales for the first three months of the year: $10,600 in January; $16,100 in February; and $11,100 in March. The company expects 80% 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 Receivabl account has a zero balance on January 1 . Round to the nearest dollar. Read the requirements. 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 70% in the month of the sale, 10% in the month following the sale, and 20% in the second month following the sale. What is the balance in Accounts Receivable on March 31
