Adams Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a specialty sales company that sells laser pointers over the Internet. Adams expects sales in January 2019 to total $400,000 and to increase 15 percent per month In February and March. All sales are on account. Adams expects to collect 66 percent of accounts receivable in the month of sale, 21 percent in the month following the sale, and 13 percent in the second month following the sale. Required a. Prepare a sales budget for the first quarter of 2019. b. Determine the amount of sales revenue Adams will report on the first 2019 quarterly pro forma income statement. c. Prepare a cash receipts schedule for the first quarter of 2019. d. Determine the amount of accounts receivable as of March 31, 2019. Complete this question by entering your answers in the tabs below. es Required A Required B Required C Required D Prepare a cash receipts schedule for the first quarter of 2019. (Do not round intermediate calculations.) Schedule of Cash Receipts January February March Receipts from January sales S 264,000 Receipts from February sales Receipts from March sales 0 Total 264,000 Required B Required D Homework Problems Saved Adams Pointers Corporation expects to begin operations on January 1, 2019; It will operate as a specialty sales company that sells laser pointers over the Internet. Adams expects sales in January 2019 to total $400,000 and to increase 15 percent per month in February and March. All sales are on account. Adams expects to collect 66 percent of accounts receivable in the month of sale, 21 percent in the month following the sale, and 13 percent in the second month following the sale. Required a. Prepare a sales budget for the first quarter of 2019. b. Determine the amount of sales revenue Adams will report on the first 2019 quarterly pro forma income statement c. Prepare a cash receipts schedule for the first quarter of 2019. d. Determine the amount of accounts receivable as of March 31, 2019 Complete this question by entering your answers in the tabs below. Required B Required C Reqaired i Required A Determine the amount of accounts receivable as of March 31, 2019. (Do not round intermediate calculations.) Accounts receivable Required D Required C