Carmen Company projects the following sales for the first three months of the year: $10,600 in January; $13,800 in February; 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 Accounts Receivable account has a zero balance on January 1 . Round to the nearest dollar: Read the Requirements 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 ? 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? (If an input field is not used, leave the input field empty. Do not enter a zero.) 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 Recelvable balance, March 31: March-Credit sales, collection of March sales in April