K Elwood Company projects the following sales for the first three months of the year $15,800 in January, $15,900 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 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) Correct: 0 Cash Receipts from Customers Total sales 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 Demodocs example Get more help Q Search 90 7 * 8 00 100 no DII DDI 9 0 January January February 15,800 15,900 14,100 February March March Total 45,800 Total Clear all Check answer " delete home hum backspace lock