Graham company projects the following sales for the first three months of the year, 14300 in january; 10200 in february; and 14100 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 recievable account has a zero balance on january 1. Round to nearest dollar.

Requirement 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 70% in the month of the sale, 10% in the month following the sale, and 20% in the second month following the sale. What is the balance in Accounts Receivable on March 31?

Cash Receipts from Customers Accounts Receivable balance, March 31 : Credit sales, collection in April and May