Jayson Company projects the following sales for the first three months of the year: $11.200 in January: $10,200 in February; and $13,400 in March. The company expects 60% of the sales to be cash and the remainder on account. Sales on account are collecled 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 Jayson for January, February, and March. What is the balance in Accounts Receivable on March 317 (Leave unused and zero balance account cells blank, do not enter "O".) Cash Receipts from Customers January February March Total i Requirements Total sales January February March | Total 1. Prepare a schedule of cash receipts for Jayson 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, 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? Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales JanuaryCredit sales, collection of January sales in January JanuaryCredit 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 MarchCash sales March-Credit sales, collection of March sales in March Print Done Enter any number in the edit fields and then click Check Answer. Accounts Receivable balance, March 31: MarchCredit sales, collection of March sales in April nter any number in the edit fields and then click Check