question marks are the blanks Cash Receipts from Customers January February March Total Total sales January February March Total Cash Receipts from Customers Accounts Receivable balance, January 1 JanuaryCash sales JanuaryCredit sales, collection of January sales in January JanuaryCredit sales, collection of January sales in February FebruaryCash sales FebruaryCredit sales, collection of February sales in February FebruaryCredit sales, collection of February sales in March MarchCash sales MarchCredit sales, collection of March sales in March Total cash receipts from customers Accounts Receivable balance, March 31 MarchCredit sales, collection of March sales in April Graham Company projects the following sales for the first three months of the year $12,400 in January $10,100 in February, and $13,400 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 Requirement 1 Prepare a schedule of cash receipts for Graham for January, February, and March What is the balance in Accounts Receivable on March 31 (Leave unused and zero balance account cells blank, do not enter O )

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question marks are the blanks Cash Receipts from Customers January February March Total Total sales ? ? ? ? January February March Total Cash Receipts

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Cash Receipts from Customers
	January	February	March	Total
Total sales	?	?	?	?
	January	February	March	Total
Cash Receipts from Customers:
Accounts Receivable balance, January 1	?	?	?
JanuaryCash sales	?	?	?
JanuaryCredit sales, collection of January sales in January	?	?	?
JanuaryCredit sales, collection of January sales in February	?	?	?
FebruaryCash sales	?	?	?
FebruaryCredit sales, collection of February sales in February	?	?	?
FebruaryCredit sales, collection of February sales in March	?	?	?
MarchCash sales	?	?	?
MarchCredit sales, collection of March sales in March	?	?	?
Total cash receipts from customers	?	?	?	?

Accounts Receivable balance, March 31:
MarchCredit sales, collection of March sales in April	?

Graham Company projects the following sales for the first three months of the year: $12,400 in January: $10,100 in February, and $13,400 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 Requirement 1. Prepare a schedule of cash receipts for Graham for January, February, and March. What is the balance in Accounts Receivable on March 31? (Leave unused and zero balance account cells blank, do not enter "O".)