Franklin Pointers Corporation expects to begin operations on January 1, year 1 ; it will operate as a specialty saies company that sells laser pointers over the Internet Franklin expects sales in January year 1 to total $200,000 and to thcrease 10 percent per month in February and March. All sales are on account. Franklin expects to collect 67 percent of occounts recelvable in the month of sale, 21 percent in the month following the sale, and 12 percent in the second month following the sale. Required a. Prenare 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 quarterly pro forma income statement: c. Prepare a cash recelpts schedule for the first quarter of year 1 . d. Determine the amount of accounts receivabie as of March 31 , year 1. Complete this question by entering your answers in the tabs below. Prepare a sales budget for the first quarter of year 1