Part 1 January:200,000 February: 120,000 March:120,000 (my ansewer)

Part 2: ________ ?

Metallica Incorporated is preparing its Schedule of Expected Cash Collections for the first quarter of 2021. Budgeted credit sales for the first three months of 2021 are given below: Sales January $200,000 February 100,000 March 125,000 Sales are collected 80% in the month of sale and 20% in the month following the month of sale. The actual credit sales in December 2020 were $200,000. Part 1. Determine the expected cash receipts for: (a) January 2021 $ (b) February 2021 $ (c) March 2021 Part 2 Compute the accounts receivable balance on March 31, 2021. $