Maynard Company projects the following sales for the first three months of the year: $12,400 in January; $11,300 in February, and $11,100 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 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 Acoounts Receivable on March 31? (ff an input fiold is not used, lesve the input fleld empty. Do not enter a zero.) Cash Receipts from Customers Cash Receipts from Ciletomare \begin{tabular}{l} February \\ \hline February-Cash sales \\ \hline \begin{tabular}{l} February-Credit sales, \\ collection of February sales in \\ February \end{tabular} \\ \hline \begin{tabular}{l} February-Credit sales, \\ collection of February sales in \\ March \end{tabular} \\ \hline \begin{tabular}{l} March-Cash sales \\ March-Credit sales, \\ collection of March sales in \\ March \end{tabular} \\ \hline \begin{tabular}{l} Total cash receipts from \\ customers \end{tabular} \\ \hline \hline \end{tabular} Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April Maynard Company projects the following sales for the first three months of the year: $12,400 in January; $11,300 in February; and $11,100 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 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.) Maynard Company projects the following sales for the first three months of the year: $12,400 in January; $11,300 in February, and $11,100 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 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 Acoounts Receivable on March 31? (ff an input fiold is not used, lesve the input fleld empty. Do not enter a zero.) Cash Receipts from Customers Cash Receipts from Ciletomare \begin{tabular}{l} February \\ \hline February-Cash sales \\ \hline \begin{tabular}{l} February-Credit sales, \\ collection of February sales in \\ February \end{tabular} \\ \hline \begin{tabular}{l} February-Credit sales, \\ collection of February sales in \\ March \end{tabular} \\ \hline \begin{tabular}{l} March-Cash sales \\ March-Credit sales, \\ collection of March sales in \\ March \end{tabular} \\ \hline \begin{tabular}{l} Total cash receipts from \\ customers \end{tabular} \\ \hline \hline \end{tabular} Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April Maynard Company projects the following sales for the first three months of the year: $12,400 in January; $11,300 in February; and $11,100 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 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.)
