Mason Company projects the following sales for the first three months of the year $11,500 in January, $16,100 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 salo and 50% in the following month. The Accounts Receivable account has a zero balance on January 1 . Round to the nearest dollar Read the requirementer Requirements Requirement 1. Pre fleld is not used, lear sounts Reccivable on March 31 ? (Af ait inpue Cash Receipts from 1. Prepare a schedule of cash recoipts for Mason for January. February, and March. What is the balance in Accounts Receivable on March 31? 2. Prepare a revised schedule of cash teceipts 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