K Mason Company projects the following sales for the first three months of the year: $11,500 in January; $12,200 in February; and $12,800 in March. The company expects 70% 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 Mason 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.) 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 February-Credit sales, collection of February sales in February February-Credit sales, collection of February sales in March March-Cash sales March-Credit sales, collection of March sales in March Total cash receipts from customers Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April 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 January-Credit sales, collection of January sales in March February-Cash sales February-Credit sales, collection of February sales in February February-Credit sales, collection of February sales in March March-Cash sales March-Credit sales, collection of March sales in March Total cash receipts from customers Accounts Receivable balance, March 31: Credit sales, collection in April and May January February March 11,500 $ 12,200 $ 12,800 $ 36,500 January February March $ $ $ $ 8,050 1,725 9,775 1,920 Requirement 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale, 10% in the month following the sale, and 30% in the second month following the sale. 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.) Cash Receipts from Customers January $ January 1,725 8,540 1,830 $ 1,830 8,960 1,920 $ 12,095 $ 12,710 $ 34,580 February March February Total Total March Total Total

Mason Corngany pnojects the folowing sales tor the frat thebe months of the year: $11.500 in Jaruary: $12.200 in February, and $12,800 is March. The corrgary expects 70\% of the sales to be cash and the remainder on acoount. Saies on acocunt are colected 50% in the month of the sale and 50% in the following month. The Accounts Receivable acsount has a rete baiance on ianuary 1 . Round to the nearest dollar. Read the Regyerements. Requirement 1. Prepare a schedule of cash receicts for Mason for January. February, and March. What is the a zero.) Cash Recelpts from Customers Accounts Receivable balance, March 31: Requirement 2. Prepare a revised scheolue of cash receiphs if receists from sales on acocunt ane 60 in the month of the sale. 10% in the moeth following the sale, and 30% in the second month folowing the sole. What is the balance Cash Precelpha from Custnmers