Carmen Company projects the following sales for the first three months of the year: $12,600 in January: $14,600 in February: and $16,300 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 Receivable account has a zero balance on January 1. Round to the nearest dollar.

Requirement 1. Prepare a schedule of cash receipts for Carmen for January, February. and March. What is the balance in Accounts Receivable on March 31?