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pls do both parts Round to the nearest dolar: Requirements 1. Prepare a schedule of cash receipts for Marlin Company for January, February, and March.
pls do both parts
Round to the nearest dolar: Requirements 1. Prepare a schedule of cash receipts for Marlin Company 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, 35% in the month following the sale, and 5% in the second month following the sale. What is the balance in Accounts Receivable on March 31? Cash Receipts from Customers \begin{tabular}{l} Cash Receipts from Customers \\ \hline Total sales \\ \hline Cash Recelpts from Customers: \\ \hline Accounts Recelvable balance, January 1 \\ \hline January-Cash sales \\ \hline January-Credit sales, collection of January sales in January \\ \hline January-Credit sales, collection of January sales in February \\ \hline February-Cash sales \\ \hline February-Credit sales, collection of February sales in February \\ \hline February-Credit sales, collection of February sales in March \\ \hline March-Cash saies \\ \hline March-Credit sales, collection of March sales in March \\ Total cash receipts from customers \end{tabular} Accounts Recelvable balance, March 31: Werch Creda sales, collection of March sales in April Step by Step Solution
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