Use the following information to answer questions 1-3: Cash Sales January $40,000 Credit Sales $120,000 February...

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Use the following information to answer questions 1-3: Cash Sales January $40,000 Credit Sales $120,000 February March April $35,000 $110,000 $25,000 $90,000 $30,000 $100,000 20% of the credit sales are collected in the month of sale, 70% in the month after sale, and 10% In the second month after sale. What is the balance of accounts receivable on March 31? Multiple Choice $11,000 $12,000 $72,000 $83,000 Use the following information to answer questions 1-3: Cash Sales January $40,000 Credit Sales $120,000 February March April $35,000 $110,000 $25,000 $90,000 $30,000 $100,000 20% of the credit sales are collected in the month of sale, 70% in the month after sale, and 10% In the second month after sale. What is the balance of accounts receivable on March 31? Multiple Choice $11,000 $12,000 $72,000 $83,000