Carmen Company projects the following sales for the first three months of the?year: $11,500 in January?; $16,100in February?; and $10,400 in March. The company expects 60?% 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.

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1. Prepare a schedule of cash receipts for Carmen 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, 25% in the month following the sale, and 15% in the second month following the sale. What is the balance in Accounts Receivable on March 31