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Climbers expects total sales of $700,000 for January and $354,000 for February. November sales totaled $400,000 and December sales were $407,000. Now assume that Climbers' sales are collected as follows: The following schedule of cash receipts for January and February was prepared based upon the collection history given: 40% in the month of the sale i (Click the icon to view the collection history.) 20% in the month after the sale (Click the icon to view the schedule of cash receipts.) 38% two months after the sale 2% never collected Prepare a revised schedule of cash receipts for January and February, including the calculation for the Net Accounts Receivable balance on February 28. Prepare a schedule of cash receipts from customers for January and February. (If an input field is not used in the table leave the input field empty; do not enter a zero.) Reference - X Cash Receipts from Customers January February i More Info - X Cash Receipts from Customers Total sales January February January February Total sales $ 700,000 $ 354,000 Cash Receipts from Customers: 60% in the month of the sale Nov.-Credit sales, collection of Nov. sales in Jan. 30% in the month after the sale January February Dec.-Credit sales, collection of Dec. sales in Jan. 9% two months after the sale Cash Receipts from Customers: Dec.-Credit sales, collection of Dec. sales in Feb. 1% never collected Nov.-Credit sales, collection of Nov. sales in Jan. $ 36,000 Jan.-Credit sales, collection of Jan. sales in Jan. Dec.-Credit sales, collection of Dec. sales in Jan. 122, 100 Jan.-Credit sales, collection of Jan. sales in Feb. Print Done Dec.-Credit sales, collection of Dec. sales in Feb. 36,630 Feb.-Credit sales, collection of Feb. sales in Feb. Jan.-Credit sales, collection of Jan. sales in Jan. 420,000 Total cash receipts from customers Jan.-Credit sales, collection of Jan. sales in Feb. 210,000 Feb.-Credit sales, collection of Feb. sales in Feb. 212,400 578,100 $ 459,030 Total cash receipts from customers Included in Accounts Receivable at February 28 Jan.-Credit sales, collection of Jan. sales in Mar. 63,000 Feb.-Credit sales, collection of Feb. sales in Mar. 106,200 Enter any number in the edit fields and then click Check Answer. Feb.-Credit sales, collection of Feb. sales in Apr. 31,860 201,060 part Net Accounts Receivable balance on February 28 remaining Clear All Check