Question Help Avery Company projects the following sales for the first three months of the year: $11.200 in January, $11,300 in February, and $14,100 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 rch. What is the balance in Accounts Receivable on March 317 (Leave unused Requirement 1. Prepare a schedule of cash receipts for Avery for January February and zero balance account cells blank, do not enter "0") Cash Receipts from Customers Januar March Total Total sales MARA KARAN February March Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales January--Credit sales. collection of January sales in January Enter any number in the edit fields and then click Check Answer Avery Company projects the following sales for the first three months of the year: $11,200 in January: $11,300 in February, and $ 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% Receivable account has a zero balance on January 1. Round to the nearest dollar. Read the requirements. Accounts Receivable balance, January January Cash sales January Credit sales, collection of January sales in January January Credit sales, collection of January sales in February February-Cash sales February_Credit sales, collection of February sales in February February --Credit sales, collection of February sales in March March Cash sales MarchCredit sales, collection of March sales in March Total cash receipts from customers Enter any number in the edit fields and then click Check Answer. Clear All part remaining 90 9 mm O MacBook Air 13 of 16 (11 complete) for the first three months of the year: $11,200 in January: $11,300 in February, and $141 der on account. Sales on account are collected 50% in the month of the sale and 50% in th January 1. Round to the nearest dollar. Requirements 1. Prepare a schedule of cash receipts for Avery 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, 25% in the month following the sale, and 15% in the second month following the sale. What is the balance in Accounts Receivable on March 31? Print Done and then click Check Answer. Clear All MacBook Air
