Maynard Company projects the following sales for the first three months of the year: $13,500 in January; $16,100 in February; and $12,900 in March. The company expects 80% 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? (Leave unused and zero balance account cells blank, do not enter "O".) Cash Receipts from Customers JanuaryFebruary 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