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Franklin Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that selis laser pointers over

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Franklin Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that selis laser pointers over the internet. Franklin expects sales in January year 1 to total $310,000 and to increase 10 percent petr month tit February and March. All sales are on account. Franklin expects to collect 67 percent of accounts recelvable in the month of sale, 25 percent in the month following the sale, and 8 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 wilireport 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 recelvable as of March 31, year 1. Complete this question by entering your answers in the tabs below. Prepare a cash receipts schedule for the first quarter of year 1. Note: Do not round intermediate calculabions. Round your final an swers to the nearest whole dollar Prepare a cash receipts schedule for the first quartec of year t. Determine the amount of accounts receivable 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. c. Prepare a cash receipts schedule for the first quarter of year 1 . d. Determine the amount of accounts recelvable as of March 31, year 1. Complete this question by entering your answers in the tabs below. Prepare a cash receipts schedule for the first quarter of year 1. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar: b. Determine the amount of sales revenue Franklin will report on the year 1 first quarterly 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. Determine the amount of accounts receivable as of March 31 , year 1 . Note: Do not round intermediate calculations. Round your final answers to the nearest whole doliar a. Prepare a sales budget for the first quarter of year 1 . c. Prepare a cash recelpts schedule for the first quarter of year 1 d. Determine the arnount of accounts recelvable as of March 31 , vear 1 . Complete this question by entering your answers in the tabs balow

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