Ehwood Corxpary projects the foliowing sales for the first three months of the year: $14,300 in January, $14,600 in February; and $11,100 in March. The company expects 80% of ti sales to be cash and the remainder on account Sales on acceunt are collected 50% in the month of the iale and 50% in the following month. The Accounts Receivable account bas zaro balance on January 1. Round to the nearest dollar. Read the regulansents Requirenent 1, Prepare a schedule of cash recelpts for Elwood for January. February, and March. What is the balance in Accounts Receivable on March 319 (f an input fald he not ised, leave the input field empty. Do not enter a zero.) Requirement 1. Prepare a schedule of cash receipts for Elwood for January. February, and March. What is the balance in Ac not used, leave the input field empty. Do not enter a zero.) January-Cash sales January - Credit sales, collection of January sales in January January-Credit sales, collection of January sales in February 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 Receivable balance, March 31: March-Credit sales, collaction of March sales in Aprit