Maynard company projects the following sales for the first three month of the year 11200 in January, 13800 in february, and 13400 in march.

REQUIREMENT 1:

REQUIREMENT 2;

Requirements 1. Prepare a achedule of cash receipts for Maynard for January, February, and March. What is the balance in Accounts Receivable on March 31 ? 2. Prepare a revised schedule of eash receipls if roccipts from salcs on account are 70% in the month of the sale, 20% in the month following the sale, and 10% in the second month following the sale. What is the belance in Aocounts Reccivable or March 31 ? Cash Receipts from Customers Accounts Receivable balance, March 31 : Credit sales, collection in April and May