Mason Company projects the following sales for the first three months of the year: $$12,600$ in January, $$15,900$ 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 $1.$ Prepare a schedule of cash receipts for Mason 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.$)$

Cash Receipts from Customers

$\backslash$table$[[,$January,February,March,Total$],[$Total sales$],[,$January,February,March,Total$],[$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$],[$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,,$,,]]$

Requirements

Prepare a schedule of cash receipts for Mason for January, February, and 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 of the sale, $10\%$ in the month following the sale, and $30\%$ in the second month following the sale. What is the balance in Accounts Recervable on March $31?$

Accounts Receivable balance, March $31?$