Question

Mason Company projects the following sales for the first three months of the​ year

The numbers that are entered in the white boxes are the ones i typed

Mason Company projects the following sales for the first three months of the year: $11,200 in January; $11,600 in February, and $12,900 in March. The company expects 60% 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 Mason for January, February, and March. What is the balance in Accounts Receivable on March 31? (Leave unused and zero balance account cells blank, do not enter "0".) Cash Receipts from Customers Total Total sales January 11200 January January February 11600 February 1 2900 March Total 6720 2240 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 4640 Total cash receipts from customers Accounts Receivable balance, March 31: March—Credit sales, collection of March sales in April Enter any number in the edit flelds and then click Check Answer.

Answer 1

Answers cash Receipts from customers Total January Febroury March $12900 $35-100 $(1600 Total $ 11200 sales I Total Teebruary march January cash receipts from Customers: Allounts Receivable Lalance, January 1 6720 January - cash sales 6+20. K1200XGO) Januang credit sales, collection aqua of January sales in Tanucony (1200X40*LXSOL 2240 2240 Januay - Credit-sales, collection of January sale in February 2240 (11200X40*/-x704) 6960 February - cash sales $6960 (11600x bol) 2320 February-Credit sales, collection of February sales in February 2320 (11600X40*1.X500 2320 February-Credit sales, collection of - February sales in march 2320 (11600x401-4581) 1740 March - cash sales 7740 (12900X600) March-credit sales, collect of - march sale in March 2580 102900X40/X50") 2580 Total cash receipts from customers $8960 $ 1520 912640 $ 32 A counts Receivable balance, march 3): March - Credit cales, collection of march sales in Apnl = 12900*40*1.50%. - $2580 =x= Thanks