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Benson Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Benson has budgeted sales as indicated in
Benson Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Benson has budgeted sales as indicated in the following table. The company expects a 15 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Benson will report on its first quarter pro forma income statement. Required A Required B Complete the sales budget by filling in the missing amounts. (Round intern places.) Sales Cash sales January February March $ 30,000 Sales on account Total budgeted sales 113,000 $ 143,000 Determine the amount of sales revenue Benson will report on its first quarter pro forma income statement. (Ro intermediate calculations and final answer to 2 decimal places.) Sales revenue
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