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Problem 7-17A (Algo) Preparing a sales budget and schedule of cash receipts LO 7-2 Wolton Pointers Corporation expects to begin operations on Januaryt,year it we

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Problem 7-17A (Algo) Preparing a sales budget and schedule of cash receipts LO 7-2 Wolton Pointers Corporation expects to begin operations on Januaryt,year it we operate as a specialty sales company that so loser pointer over the intemet Walton expects sales in January year I to total $300,000 and to increase 20 percent per month in February and March. All sales are on account. Walton expects to collect 67 percent of accounts receivable in the month of so, 21 percent in the month following the sale, and 12 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 Walton will report on the year 1 first quarterly pro forma income statement c. Prepare a cash receipts schedule for the first quarter of year Determine the amount of accounts receivable as of March 31, your Complete this question by entering your answers in the tabs below. Required A Red Required Required Prenare a sales budget for the first quarter of year 1. Per SS.COM CA Required > Problem 7-17A (Algo) Preparing a sales budget and schedule of cash receipts LO 7-2 Walton Pointers Corporation expects to begin operations on January 1 year it wil operate as a specialty sales company that sells laser pointers over the Internet Wiiton expects sales in January year to total $300.000 and to increase 20 percent per month in February and March. All sales are an account. Walton expects to collect 67 percent of accounts receivable in the month of unie 21 percent in the month following the sale, and 12 percent in the second month following the sale Required . Prepare a sales budget for the first quarter of year 1 b. Determine the amount of sales revenue Walton will report on the year 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 Complete this question by entering your answers in the tabs below. PeoamA Required Required Required Determine the amount of sales revenue Walton will report on the year first quarterly pro forma income statement

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