Requirement 2. Prepare a revised schedule of cash receipts if recoipts from sales on account are 70% in the month of the sak, 25% in the month folowing the sale and 5% in ife second month following the sale. What is the balance in Accounts Recelvable on March 31 ? (t) an input fiela is not used, leave the input fold emply Do not enter a zele) Cash Receipts from Customers Elwood Company projects the following sales for the first three months of the year 14 les to be cash and the remainder on account Sales on accouat are collected 50 zere balance on January 1 . Round to the nearest dolar Read the teguirements. Jantary-Credit bales, collection of January sales in January Requirements 1. Pepare a achedre of cash receinis tor f hooed for Jecuayy, Fieruay, and March. What is the batance in Aceounta Recsivatle is March 31 ? 2 Prepare a revbesd achedile of conh rece pte if recrepts toith sublis on account ate 70% in the month of the sale, 25% in ithe ronth folowing the salec, and 5% in the socoed monti folowing the sale. What is the balance in Acceints Recelvable ce March 3 t? Elwood Company projects the following sales for the first three months of the year, $14,300 in January, $14,600 in February, and $11,100 in March. The cornpary inpacts f0\% af ite 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 menth. The Accounts fecekvable eccount has a zero balance on January 1. Round to the nearest dollar. Read the requirements