Check my work FIUUIII rieparty d baie vuuyet du DiCuUI UI LO FELPED LUN Spaldina 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. Spalding expects sales in January 2019 to total $120,000 and to increase 5 percent per month in February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 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 Spalding 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 A Required B Required C Required D Prepare a sales budget for the first quarter of 2019. January February March Sales Budget Sales on account Rewired > urteen Graded Homework Saved Help Save & Exh Check my rivulen 111 Preparmy a bares vuuyet anu scrieure UI LODIILIPID LU 12 Spalding 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. Spalding expects sales in January 2019 to total $120,000 and to increase 5 percent per month in February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 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 Spalding 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. rences Complete this question by entering your answers in the tabs below. Required A Reqhired B Required C Required D Determine the amount of sales revenue Spalding will report on the first 2019 quarterly pro forma income statement Sales revenue percent in the monun following the sale, and 10 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 Spalding 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 A Required B Required C Required Required Prepare a cash receipts schedule for the first quarter of 2019 January February March Schedule of Cash Receipts Receipts from January sales Receipts from February sales Receipts from Marches Total laser pointers over the Internet. Spalding expects sales in January 2019 to total $120,000 and to increase 5 percent per m February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month percent in the month following the sale, and 10 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 Spalding 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 A Required B Required Required D Determine the amount of accounts receivable as of March 31, 2019, Accounts receivable
