Franklin 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. Franklin expects sales in January year $1$ to total $$390,000$ and to increase $20$ percent per month in February and March. All sales are on account. Franklin expects to collect $65$ percent of accounts receivable in the month of sale, $22$ 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 year $1.$

b$.$ Determine the amount of sales revenue Franklin will report on the year $1$ first quicirterly pro forma income statement.

c$.$ Prepare a cash receipts schedule for the first 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

Required C

Required D

Prepare a sales budget for the first quarter of year $1.$

$\backslash$table$[[$Sales Budget,January,February,March$],[$Sales on account,$390,000,,]]$