Maynard Company projocts the folowing sales for the first three months of the year: $11,500 in January, $10,200 in February; and $12,900 in March. The company expects 80% of the sales to be cash and the remainder on account. Sales on acoount are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance an Januafy. 1. Round to the nearest dolar. Read the teguremants. Requirement 1. Prepare a whedule of cash receipts for Maynard for January, Fetruary, and March. What is the balance in Accounts Recevable on March 31 ? (it an input field is not used, laive the input field empty. Do not enter a zero) ects the following sales for the first three months of the year: $11,500 in January; $10,200 in Februar on account. Sales on account are collected 50% in the month of the sale and 50% in the following m dollar. ire a schedule of cash receipts for Maynard for January, February, and March. What is the balance in Ac ot enter a zero.) Requirements 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 60% in the month of the sale, 10% in the month following the sale, and 30% in the second month following the sale. What is the balance in Accounts Receivable on March 31 ? Cash Receipts from Customers