Company projects the following sales for the first three months of the year: $13,500 in January; $10,200 in February; and $10,400 in March. The company expects 60% of the sales to be cash and the remainder The an account, Sales on acoount are collected 50% in the month of the sale and 50% in the following month. Accounts Receivable acoount has a zero balance on danuary Requirement 1n Prepare a schedule of cash receipts for Elwood for danuary, February, and March, What is the balance in Acoounts Receivable on March 31 ? Cash Receipts from Customers What is the balance in Accoun:s Receivable cn March 317 2. Prepare a revised schedule of cash receipts if receipts from sales can acocunt are 6dib in the month of the sale, 35% in the month followind the sala, and 5% in the saccod month folloving the sale. What is the balarice in Acocumts Recaivalule bn Warch 317