1,2,3

Cammen's Dress Delivery operates a mail-order business that selfs clothes designed for frequent travelers. It had sales of $690.000 in December. Because Camen's Dress Delivery is in the mail order business, all 5 ales are macie. on account. The company expects a 28 percent drop in sales for January. The balance in the Accounts Receivable account on December 31 was $97700 and is bucigeted to be $72,900 as of January 31 Required a. Determine the amount of cash Carmen's Dress Delvery expects to collect from aceounts receivable during January? Gibson Company, which selis electric razors, had $350,000 of cost of goods sold during the month of June. The comparny projects a 7 percent increase in cost of goods sold during July. The irventory balance as of June 30 is $30,000, and the desired ending inventory balance for July is $31,000. Gibson pays cash to settle 75 percent of Its purchases on account during the month of purchase and pays the remaining 25 percent in the month following the purchase. The accounts payable balance as of June 30 was $26.000. Required a. Determine the amount of purchases budgeted for July. b. Determine the amount of cash payments budgeted for inventory purchases in July. Adams Pointers Corporation expects to begin operations on January 1, Yeat 1 it will operate as a speciaity sales cornpany thetseis Iaser pointers over the Internet. Adams expects sales in January Yeat 1 to total $260.000 and to increase 15 percent per monthin February and March. Al sales are on accotant. Adams expects to collect 66 percent of accounts receivable in the month of sale. 20 percent in the month following the sale, and 14 percent in the second month following the sale, Required a. Prepare a sales budget for the first quarter of Year 1 b. Determine the amount of sates revenue Adams will report on the Year 1 first gurarterly proforma ifteome statement. c. Prepare a cash receipts schedule for the first quarter of YeaH 1 . d. Determine the amount of accounts-receivable as of March Bi, Year 1. Complete this auestion by entering your answers in the tabs below. Prepare a sales budget for the first quarter of year 1. Adams Pointers Corporation expects to begin operations on January 1 , Year 1; it will operate as laser pointers over the Internet. Adams expects sales in January Year 1 to total $260,000 and to February and March. All sales are on account. Adams expects to collect 66 percent of accounts percent in the month following the sale, and 14 percent in the second month following the sale. Required a. Prepare a sales budget for the first quarter of Year 1. b. Determine the amount of sales revenue Adams will report on the Year 1 first quarterly pro forr c. Prepare a cash receipts schedule for the first quarter of Year 1. d. Determine the amount of accounts receivable as of March 31. Year 1. Complete this question by entering your answers in the tabs below. Determine the amount of sales revenue Adams will report on the year 1 first quarterly pro forma in Adams Pointers Corporation expects to begin operations on January 1, Year 1 ; it will operate as a specialty laser pointers over the Internet. Adams expects sales in January Year 1 to total $260,000 and to increase 1 February and March. All sales are on account. Adams expects to collect 66 percent of accounts receivable percent in the month following the sale, and 14 percent in the second month following the sale. Required a. Prepare a sales budget for the first quarter of Year 1. b. Determine the amount of sales revenue Adams will report on the Year 1 first quarterly pro forma income c. Prepare a cash receipts schedule for the first quarter of Year 1. d. Determine the amount of accounts receivable as of March 31 , Year 1. Complete this question by entering your answers in the tabs below. Prepare a cash receipts schedule for the first quarter of year 1 . (Do not round intermediate calculations. Roun answers to the nearest whole dollar.) Adams Pointers Corporation expects to begin operations on January 1 , Year 1 ; it will operate as a specialty sa laser pointers over the Internet. Adams expects sales in January Year 1 to total $260,000 and to increase 15 p February and March. All sales are on account. Adams expects to collect 66 percent of accounts receivable in percent in the month following the sale, and 14 percent in the second month following the sale. Required a. Prepare a sales budget for the first quarter of Year 1. b. Determine the amount of sales revenue Adams will report on the Year 1 first quarterly pro forma income sta c. Prepare a cash receipts schedule for the first quarter of Year 1. d. Determine the amount of accounts recelvable as of March 31, Year 1. Complete this question by entering your answers in the tabs below. Determine the amount of accounts recelvable as of March 31, year 1. (Do not round intermediate calculations. Ro final answers to the nearest whole dollar.)