Budget Project 0 2 16.66 polnts Sklpped eBook Ask References Saved Help Save 8. Exit Submit Check my work Jordan Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Jordan expects sales in January year 1 to total $220,000 and to increase 15 percent per month in February and March. All sales are on account. Jordan expects to collect 70 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 8 percent in the second month following the sale. Required 3. Prepare a sales budget for the rst quarter of year 1. b. Determine the amount of sales revenue Jordan will report on the year 1 rst quarterly proforma income statement c. Prepare a cash receipts schedule for the rst 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. Required A Required B RequiredC ' Required D Prepare a sales budget for the rst quarter of year 1