Mason Company projects the following sales for the first three months of the year $11,200 in January: $12.200 in February, and $18.300 in March. The company expects 60% of the sales to be cash and the remainder on account. Sules 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 resuirements Requirement 1. Prepare a schedule of cash receipts for Mason for January, February, and March What is the balance in Accounts Receivable on March 317 1 an input field is not used, inave the input tuld empty. Do not enter a zero) Cash Receipts from Customers January February March Total Total sales 11,200 12.200 16,300 39,700 January February March Total Cash Receipts from Customers Accounts Receivable balance, Jancary January Cash sales January-Cledit sales, collection of January sales in January January--Credit sales, collection of January sales in February FebruaryCash sales February-cruditas coloction of February sales in February February--Credores, collection of February sales in March Marchash sales March-Credit sales, collection of March ales in March Total cash receipts from customers Accounts Receivable balance, March 31 March --Credit sales collection of March ales in all x Requirements 1. Prepare a schedule of cash receipts for Mason for January February, and March. What is the balance in Accounts Receivable on March 317 2 Prepare a revised schedule of cash receipts recents 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 317 Print Done