Maynard Company projects the folowing sales for the first three months of the year $12.400 in January, $11,000 in February, and $13,400 in March. The company expects 70% 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 se nearest d Read the recurrents Requirement 1. Prepare a schedule of cash receipts for Maynard for January February, and March What is the balance in Accounts Receivable on March 317 (If an input field is not used, leave the input field omoly Do not enter a zero Cash Receipts from Customers January February March Total Total sales January February March Total Cash Receipts from Customers: Accounts Receivable tale, Janary January Cash sales January Credit sales, collection of January sales in January January Croot salos colection of January sales in February Maynard Company projects the following sales for the first three months of the year $12,400 in January, 511,600 in February, and 513 400 in March. The company expects 70% 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 doll Read the requirements January Credit sales, collection of ways in January January Credit sales, collection of January sales in February February-Cash sales February-Creat sales.coction of Februay in February February.redt sales colecton of February sale in March March-Cash sales MechCredit les collection Marche Mach Total cash recepts from customers Accounts Receivable balance, March 31 March-Cred sales, corection of March ales in Apri 1. Prepare a schedule 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 cash receipts if receipts from sales on account are 70% in the month of the sale, 10% in the month following the sale, and 20% in the second month following the sale. What is the balance in Accounts Receivable on March 31