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Homework: Chapter M:5 Homework Question 4, EM5-26 (sim... Part 1 of 2 HW Score: 17.65%, 1.24 of 7 points O Points: 0 of 1 Save Jayson Company projects the following sales for the first three months of the year: $16,700 in January: $12,200 in February, and $12,800 in March. The company expects 80% 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. . Requirement 1. Prepare a schedule of cash receipts for Jayson for January, February, and March. What is the balance in Accounts Receivable on March 317 (If an input field is not used, leave the input field empty. Do not enter a zero.) Cash Receipts from Customers January February March Total Requirements Total sales January February March Total 1. Prepare a schedule of cash receipts for Jayson 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, 35% in the month following the sale, and 5% in the second month following the sale. What is the balance in Accounts Receivable on March 31? 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 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 Print Done Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April Help me solve this Etext pages Get more help Clear all Check