Marcel Company projects the following sales for the first three months of the year: $16,700 in January; $12,200 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 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. Requirements 1. Prepare a schedule of cash receipts for Marcel for January, February, and March. What_ss 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, 25% in the month following the sale, and 15% in the second month following the sale. What is the balance in Accounts Receivable on March 31 ? 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 ? (If an input field is not used, leave the input field empty. Do not enter a zero.) 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 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