Prepare a revised schedule of cash receipts if receipts from sales on account are

Prepare a revised schedule of cash receipts if receipts from sales on account are 70% in the month of the sale, 20% in the month following the sale, and 10% in the second month following the sale. What is the balance in Accounts Receivable on March 31?

Actual Question: How to calculate credit sales, collection in April and May? (Show work please)

Avery Company projects the following sales for the first three months of the year: $11,500 in January: $11,600 in February; and $10.500 in March. The company expects 80% 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 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 70% in the month of the sale 20% in the month following the sale, and 10% in the second month following the sale. 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.) Cash Receipts from Customers January February March Selange Total 33.600 Total sales 11,500 11,600 10.500 January February March Total 9.2001 1.610 Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales January-Credit sales, collection of January sales in January JanuaryCredit sales, collection of January sales in February JanuaryCredit sales, collection of January sales in March February-Cash sales FebruaryCredit sales, collection of February sales in February February-Credit sales, collection of February sales in March 460 230 9.280 1.624 464 March-Cash sales 8.400 March-Credit sales, collection of March sales in March 1.470 10.8101 11,384 10.564 32.738 Total cash receipts from customers Accounts Receivable balance, March 31: Credit sales, collection in April and May