Perez 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. Perez expects sales in January Year 1 to total $260,000 and to increase 10 percent per month in February and March. All sales are on account. Perez expects to collect 68 percent of accounts receivable in the month of sale, 21 percent in the month following the sale, and 11 percent in the second month following the sale.

Required

Prepare a sales budget for the first quarter of Year 1.

Determine the amount of sales revenue Perez will report on the Year 1 first quarterly pro forma income statement.

Prepare a cash receipts schedule for the first quarter of Year 1.

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 2019. Complete this question by entering your answers in the tabs below. Determine the amount of sales revenue Perez will report on the first 2019 quarterly pro forma income statement. Complete this question by entering your answers in the tabs below. Prepare a cash receipts schedule for the first quarter of 2019. (Do not round intermediate calculations. Round final answers to whole dollars.) Complete this question by entering your answers in the tabs below. Determine the amount of accounts receivable as of March 31, 2019. (Do not round intermediate calculations. Round final answers to whole dollars.)