Help please with an explanation!
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Score: 0.43 of 1 pt 4 of 7 (7 complete) HW Score: 77.13%, 5.4 of 7 pts EM7-26 (similar to) Question Help Marlin Company projects the following sales for the first three months of the year: 515.800 in January: $11,300 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 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? (If 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 January February March Total * -X Requirements Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales JanuaryCredit sales, collection of January sales in January January-Credit sales, collection of January sales in February January-Credit sales, collection of January sales in March February-Cash sales February-Credit sales, collection of February sales in February FebruaryCredit sales, collection of February sales in March March-Cash sales March-Credit sales, collection of March sales in March 1. Prepare a schedule of cash receipts for Marlin 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 Total cash receipts from customers Accounts Receivable balance, March 31: Enter any number in the edit fields and then click Check Answer. ? All parts showing Clear All Check Answer Type here to search a ()) 5:20 PM 3/26/2021
