Company projects the following sales for the first three months of the year:

$13,500

in

January;

$10,200

in

February;

and

$11,100

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 and50% in the following month. The Accounts Receivable account has a zero balance on

January

1. Round to the nearest dollar.Read the requirements

LOADING...

.

Requirement 1. Prepare a schedule of cash receipts for

Armand

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.)

Cash Receipts from Customers
		January	February	March	Total
Total sales
		January	February	March	Total
Cash Receipts from Customers:
Accounts Receivable balance, January 1
JanuaryCash sales
JanuaryCredit sales, collection of January sales in January
JanuaryCredit sales, collection of January sales in February
FebruaryCash sales
FebruaryCredit sales, collection of February sales in February
FebruaryCredit sales, collection of February sales in March
MarchCash sales
MarchCredit sales, collection of March sales in March
Total cash receipts from customers
Accounts Receivable balance, March 31:
MarchCredit sales, collection of March sales in April