Maynard Company projects the following sales for the first three months of the year: $$15,800$ in January; $$13,800$ in February; and $$12,800$ 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 Maynard 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.$)$

$\backslash$table$[[$Cash Receipts from Customers$],[,$January,February,March,Total$],[$Total sales,$15800,13800,|12800|,42400],[$January$,$February,March,Total$],[$Cash Receipts from Customers:$],[$Accounts Receivable balance, January $1],[$January$$Cash sales,$4980,,,],[$January$$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,,,,$]]$

Accounts Receivable balance, March $31$:

March$$Credit sales, collection of March sales in April $$

Requirements

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