January rruary Carmen Company projects the following sales for the first three months of the year. $12,400 in January, $12,200 in February, and $11,100 in March. The company expects 80% of the sales to be cash and the remainder on 9ccount. 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. Raund ta the nearest colar. Read the requirements Requirement 1. Prepare a schedule of cash receipts for Carmen 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 zera.) Cash Receipts from Customers January February March Total Total sales 12400 12200 11000 35600 February March Total Cash Receipts from Customers: Accounts Receivable balance, January 1 January January Credit sales, collection of January sales in January reales January-Credit sales, collection of January sales in February February Cash sales February-Credit Bales, collection of February sales in February sales, collection of February sales in March March-Cash sales March-Credil sales, collection of March sales in March Luary Cash sales sales, -Credit Total cash recepts from customers Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in Apri