Avery Company projects the following sales for the first three months of the year. $16.700 in January. $12,300 in February, and $13,400 in March. The cormpany expects 80% of the sales to bo cash and the remainder on account. Sales on account are collocted 50% in the month of the salo and 50% in the following month The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar. Read the teguitements Requirement 1. Prepare a schedule of cash recepts for Avery for January. Februory, and March. What is the balance in Accounts Receivable on Mareh 31 (ff an input fiold is not used, leave the input feld empty. Do not onter a zeto) Avery Company projects the following sales for the first three months of the year, $16,700 in January, $12,300 in Fobruary, and $13,400 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 Acoounts Receivable account has a zoro balance on January 1 . Round to the nearest dollar: Road the requitements. Accounts Recelvable balance, March 31: March - Credit sales, colloction of March sales in Apn! Requirement 2. Prepare a revised schedule of cash receipts if receipts from sales on accoumt 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 balanco in Accounts Receivable on March 31 ? (If an input feld is not used, leave the input Feld emply. Do not enter a zero) ) Accounts Receivable balance, March 31: Credit sales, collection in April and May