Marlin Company projects the following sales for the first three months of the year: $11,200 in January: $10,200 in February; and $14,100 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. FIRE Requirement 1. Prepare a schedule of cash receipts for Marlin for January, February, and March. What is the balance in Accounts Receivable on March 317 (If an input field is not used, leave the input field empty. Do not enter a zero.) Cash Receipts from Customers Total X Requirements Total sales January February March $ 11,200 $ 10,200 $ 14,100 $ S January February March 35.500 Total 1. Prepare a schedule of cash receipts for Marlin for January, February, and March. What is the balance in Accounts Receivable on March 317 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? $ $ 6.720 2.240 Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales January-Credit sales, collection of January sales in January JanuaryCredit sales, collection of January sales in February FebruaryCash sales February Credit sales, collection of February sales in February February-Credit sales, collection of February sales in March March Cash sales $ 2,240 $ 6,120 2.040 Print Done 1 S 2,040 8,460 March-Credit sales, collection of March sales in March 2,820 $ 8.960 $ 10,400 S Total cash receipts from customers 13,320 $ 32.680