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%E22-26 (book/static) Question Help Marcel Company projects the following sales for the first three months of the year: $11.200 in January $12.300 in February, and $11.100 in March. The company expects coss 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 flowing month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dolar Read the requirements Requirement 2. Prepare a revised schedule of cash recipes if receipts from sales on account are 60% in the month of the sale, 305 in the month folowing the sale, and 10% in the second month following the sale. What is the balance in Accounts Receivable on March 317 (Leave unused and zero balance account cells blank, do not enter "0") Cash Receipts from Customers January February March Total Total sales 11.200 12.300 11.110 34.600 January February March Total Cash Receipts from Customers: Accounts Receivable balance, January 1 January Cash sales January-Credit sales collection of January sales in January January-Credit sales, collection of January sales in February January-Credit sales collection of January sales in March February-Cash sales Marcel Company projects the following sales for the first three months of the year: $11.200 in January $12,300 in February, and $11,100 in March. The company expects 60% 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 January Cash sales January-Credit sales, collection of January sales in January January-Credit sales, collection of January sales in February January-Credit sales, collection of January sales in March February-Cash sales February-Credit sales, collection of February sales in February February Credit sales, collection of February sales in March March-Cash sales March-Credit sales, collection of March sales in March Total cash receipts from customers Accounts Receivable balance, March 31: Credit sales, collection in April and May