Axon Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic conditions vary in different regions of the country. The growth expectations per quarter are 4 percent for Cummings Division, 2 percent for Springfield Division, and 5 percent for Douglas Division.

Division	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Cummings Division	$ 75,000	?	?	?
Springfield Division	125,000	?	?	?
Douglas Division	100,000	?	?	?

Required

1. Complete the sales budget by filling in the missing amounts. (Round figures to the nearest dollar.)
2. Determine the amount of sales revenue that the company will report on its quarterly pro forma income statements.

If cash collection happens as 25% of sales on cash; 50% collected in the month of the sale; 25% collected in the month following the sale, calculate the following:

3. Total cash collections for Q2
4. A/R for Q4