E22-26 (similar to) EQuestion Help Graham Company projects the following sales for the frst three months of the year: $12.600 in January, $16,100 in February, and $11,100 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 Read the requirements Requirement 2. Prepare a revised schedule of cash receiptsf receipts from sales on account are 70 % in the month of the sale, 25% in the month following the sale, and 5% in the second month following the sale. What is the balance in Accounts Receivable on March 31? (Leave unused and zero balance account cells blank, do not enter ") Cash Receipts from Customers January February March Total Total sales January February Total March Cash Receipts from Customers Accounts Reoeivable balnce, January 1 January-Cash sales January-Credt sales, collection of January sales in January January-Credt sales, oollection of January sales in February January-Credt sales coection of January sales in March February-Cash sales February-Credtsales coecton of February sales in February February-Cret sales, colection of February sales in March March-Cash sales March-Credt sales, collection of March sales in March Total cash receps from customers Accounts Receivable balance,, March 31: Credt saes oleon in Apri and May Enter any number in the edt feids and then cick Check Answer All parts showing Clear A Check