Problem 7-17A Preparing a sales budget and schedule of cash receipts LO 7-2 Rundle Pointers Corporation expects to begin operations on January 1, 2019, it will operate as a specialty sales company that sells laser pointers over the Internet. Rundle expects sales in January 2019 to total $360,000 and to increase 20 percent per month in February and March. All sales are on account. Rundle expects to collect 69 percent of accounts receivable in the month of sale, 24 percent in the month following the sale, and 7 percent in the second month following the sale. Required a. Prepare a sales budget for the first quarter of 2019. b. Determine the amount of sales revenue Rundle will report on the first 2019 quarterly pro forma income statement. c. Prepare a cash receipts schedule for the first quarter of 2019. d. Determine the amount of accounts receivable as of March 31, 2019. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare a sales budget for the first quarter of 2019. Sales Budget Sales on account January $ 360,000 February $ 432,000 March 518,400 $ Required A Required B Required A Required B Required C Required D Determine the amount of sales revenue Rundle will report on the first 2019 quarterly pro forma income statement. Sales revenue $ 1,310,400 Required A Required B Required C Required D Prepare a cash receipts schedule for the first quarter of 2019. (Do not round intermediate calculations.) February $ 86,400 March 25,200 $ Schedule of Cash Receipts January Receipts from January sales | $ 248,400 Receipts from February sales Receipts from March sales Total $ 248,400 $ 86,400 $ 25,200 Required A Required B Required C Required D Determine the amount of accounts receivable as of March 31, 2019. (Do not round intermediate calculations.) Accounts receivable