mulative i Saved Bright Minds Toy Company prepared the following sales budget for the second quarter....

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mulative i Saved Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows: Sales Budget Cash Sales Sales on Account April 80,000 420,000 May June 63,000 105,000 472,000 455,000 500,000 535,000 560,000 Bright Minds expects to collect 70% of the sales on account in the month of sale. 20% in the month following the sale, and the remainder in the second month following the sale. What is the amount of sales revenue that the company will report on the second quarter pro forma income statement? Multiple Choice $1,595,000 $1,349,800 $1,447,000 $1,196,800 mulative i Saved Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows: Sales Budget Cash Sales Sales on Account April 80,000 420,000 May June 63,000 105,000 472,000 455,000 500,000 535,000 560,000 Bright Minds expects to collect 70% of the sales on account in the month of sale. 20% in the month following the sale, and the remainder in the second month following the sale. What is the amount of sales revenue that the company will report on the second quarter pro forma income statement? Multiple Choice $1,595,000 $1,349,800 $1,447,000 $1,196,800