Graham Company projects the following sales for the first three months of the year: $10,000 in January, $16,100 in February, and $14,100 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 fequirements Requirement 1: Prepare a schedule of cash receipts for Graham 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 10600 16100 14100 40800 January February March Total Cash Receipts from Customers: Accounts Receivable balance, January 1 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 Question 4, EM5- 26 (similar to) Part 1 of 2 Homework: Module 6: Homework > HW Score: 25.31%, 1.77 of 7 points O Points: 0 of 1 Save Graham Company projects the following sales for the first three months of the year $10,600 in January, $16,100 in February, and $14,100 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 fequirements Accounts Receivable balance, January 1 January-Cash sales January-Credit sales, collection of January sales in January January-Credit sales, collection of January sales in February FebruaryCash 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, collection of March sales in April ing22- Online] PRINCIPLES OF ACCOUNTING II work: Module 6: work Question 4, EM5- 26 (similar to) ( HW Score: 25.31%, 1.77 of 7 points O Points: 0 of 1 Part 1 of 2 any projects the following sales for the first three months of the year. $10,600 in January, $16,1 $14,100 in March. The company expects 60% of the sales to be cash and the remainder on acc ollected 50% in the month of the sale and 50% in the following month. The Accounts Receivable on January 1. Round to the nearest dollar. - Requirements 1. Prepare a schedule of cash receipts for Graham for January, February, and March. What is the balance in Accounts Receivable on March 31? 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale, 30% in the month following the sale, and 10% in the second month following the sale What is the balance in Accounts Receivable on March 31? Print Done Cesc CuSLOTEN Leceivable balance, March 31: dit sales, collection of March sales in April re help Clear all Check Type here to search O