Marcel Company projects the following sales for the first three months of the year. S 15.800 in January: $11.600 in February: and $13.400 in March. The company expects 70% of the sales to b cash and the remainder on account. Sales on account are collected 50 n he month of he sale and 50% n the follo ng month The Accounts Receivable account a sa zar balance on anuary Round to th e rest o Read the requirements Requirement 1. Prepare a schedule of cash receipts for Marcel for January. February, and March. What is the balance in Accounts Receivable on March 31? (Leave unused and zero balance account cells blank, do not enter "O".) Cash Receipts from Customers January FebruaryMarch Requirements Total sales January FebruaryMarch Total 1. Prepare a schedule of cash receipts for Marcel for January. February, and 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 March. What is the balance in Accounts Receivable on March 31? Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month ofthe sale, 15% in the month following the sale, and 25% in the second month following the sale. What is the balance in Accounts Receivable on March 31? 2. bruary Cash sales February-Credit sales, collection of February sales in February FebruaryCredit sales, collection of February sales in March March-Cash sales March-Credit sales, collection of March sales in March Total cash receipts from customers G Requirements 1. Prepare a schedule of cash receipts for Marcelfor January, February, and March. What is the balance in Accounts e 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, 15% in the month following the sale, and 25% in the second month following the sale. What is the balance in Accounts Receivable on March 31? Accounts Receivable balance, March 31: it sales, collection of March sales in April