Munoz Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Munoz has budgeted sales as indicated in the following table. The company expects a 12 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March.

Required

1. Complete the sales budget by filling in the missing amounts.

2. Determine the amount of sales revenue Munoz will report on its first quarter pro forma income statement.

1.

Sales	Jan	Feb	March
Cash Sales	$36,000
Sales on account	115,000
Total Budgeted Sales	151,000

2.

Sales Revenue