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. Requirement 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 ? (If an input field is not used, leave the input field empty. Do not enter a zero.) Cash Receipts from Customers \begin{tabular}{|l||l|l|l|l|} \hline Accounts Receivable balance, January & & & & \\ \hline \end{tabular} Accounts Receivable balance, March 31: Credit sales, collection in April and May