avery company projects the following sales for the first three months of the year: $13,500 in January; $15,900 in February; and $11,100 in march. the companh expects 60% of the sales to be cash and the remainder on the account. sales on account are collected 50% in the month of the sale and 50% in the following month. the accounts receivable has a zero balance on january 1. round to the nearest dollar

requirement 1: prepare a schedule of cash receipts for avery for january, February, and march. what is the balance in accounts receivable on march 31?

requirement 2: prepare a revised schedule of cash receipts if receipts from sales on account are 80% in the month of the sale. 15% in the month following the sale, and 5% in the second month following the sale. What is the balance in accounts receivable on march 31?

Requirement 1. Prepare a schedule of cash receipts for Avery for January February, and March. What is the balance in Accounts Rece Cash Receipts from Customers January February March Total Total sales January February March Total Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales January --Credit sales, collection of January sales in January, January--Credit sales, collection of January sales in February February-Cash sales February-Credit sales, collection of February sales in February February--Credit sales, collection of February sales in March March-Cash sales March-Credit sales collection of March sales in March Total cash receipts from customers Accounts Receivable balance, March 31: March - Credit sales collection of March sales in Aprill