Learning Objectives 4,7 ng Objectives 4,7 1. Feb. total cash receipts $12,080 he following E22-26 Preparing a financial budget-schedule of cash receipts, sensitivi analysis Marcel Company projects the following sales for the first three months of year: $11,200 in January: $12,300 in February; and $11,100 in March. The pany expects 60% of the sales to be cash and the remainder on account. Sala on account are collected 50% in the month of the sale and 50% in the follo month. The Accounts Receivable account has a zero balance on January 1. Row to the nearest dollar. Requirements 1. Prepare a schedule of cash receipts for Marcel for January, February, and March What is the balance in Accounts Receivable on March 317 2. Prepare a revised schedule of cash receipts if receipts from sales on account and 60% in the month of the sale, 30% in the month following the sale, and 10% in the second month following the sale. What is the balance in Accounts Receivable on March 31