Marlin Company projects the following sales for the first three months of the year: $15,800 in January; $14,600 in February; and $10,400 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. Requirement 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 70% in the month of the sale, 25% in the month following the sale, and 5% 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 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 January February March Total 15,800 14,600 10,400 40,800 January February March Total 9,480