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Elwood Company projects the following sales for the first three months of the year: $11,200 in January; $10,200 in February; and $14,100 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 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 1. Prepare a schedule of cash receipts for Elwood 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.) Elwood Company projects the following sales for the first three months of the year. $11,200 in Januar February, and $14,100 in March. The company expects 80% of the sales to be cash and the remaind Salos on account are collected 50% in the month of the sale and 50% in the following month. The Ace Receivable account has a zero balance on January 1. Round to the nearest dollar. Read the requirements Requirement 1. Prepare a schedule of cash receipts for Elwood for January. February, and March., V balance in Accounts Receivable on March 31? of an input feld is not used, leave the input fieid empty a zero.) Cash Receipts from Customers Requirements 1. Prepare a schedule of cash receipts for Elwood for January. February, and March. What is the balance in Aocounts 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. 35% 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