LLU (UUUNblatiu) Question Help Marcel Company projects the following sales for the first three months of the year. $11,200 in January, $12,300 in February, and $11.100 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 Cash Receipts from Customers: Accounts Receivable balance, January 1 January Cash sales $ 6,720 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 Enter any number in the edit folds and then click Check Answer Clear All ud i Requirements K X of of n of 1. Prepare a schedule of cash receipts for Marcel 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? on of of M Print Done mers ce, March 31: on of March sales in April lit fields and then click Check Answer. Clear All