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Requirements 1. Prepare a schedule of cash receipts for Mason for January, February, and March. What is the balance in Accounts Receivable on March 31? 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale, 15% in the month following the sale, and 25% in the second month following the sale. What is the balance in Accounts Receivable on March 31? ason Company projects the following sales for the first three months of the year $15,800 in January. $11,600 in February, and $16,300 h March. The company expects 60% of the ies to be casth 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 ro balance on January 1. Round, to the nearest dollar. ead the Requirement 1. Prepare a schedule of cash receipts for Mason for January, February, and March. What is the balance in Accounts Receivable on Morch 31 ? (if an input fleld is ot used, leave the input field empty. Do not enter a zeco) \begin{tabular}{l} \hline January-Cash sales \\ \hline January-Credit sales, collection of January sales in January \\ \hline January-Credit sales, collection of January sales in February \\ \hline 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 \\ \hline Accounts Receivable balance, March 31: \\ \hline March-Credit sales, collection of March sales in April \\ \hline \end{tabular}

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