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Rooney Pointers Corporation expects to begin operations on January 1 , year 1 ; it will operate as a speciality sales company that sells taser

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Rooney Pointers Corporation expects to begin operations on January 1 , year 1 ; it will operate as a speciality sales company that sells taser pointers over the Internet. Rooney expects sales in January year 1 to total $200,000 and to increase 15 percent per month in February and March. All sales are on account. Rooney expects to collect 68 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 10 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 Rooney will report on the year 1 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 recelvable 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 year 1 . Rooney Pointers Corporation expects to begin operations on January 1 , year 1 ; it will operate as a speciality sales company that sells taser pointers over the Internet. Rooney expects sales in January year 1 to total $200,000 and to increase 15 percent per month in February and March. All sales are on account. Rooney expects to collect 68 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 10 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 Rooney will report on the year 1 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 recelvable 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 year 1

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