Save Set Check my word 4 1.66 points Thomton Pointers Corporation expects to begin operations on January 1 year it will operates a specialty sales company that sells laser pointers over the Internet Thornton expects sales in January year to total $300,000 and so increase percent per month in February and March. All sales are on account Thornton 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 Thornton 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 1 Print Complete this question by entering your answers in the tabs below. ences Required A Required tegutted coured Prepare a sales budget for the first quarter of year 1. Sales Budget January February Si on account March Bred) Chapter 7 HW Problems Exercises Help Suret S Chamon 4. 16 66 points Thornton Pointers Corporation expects to begin operations on January 1, yeart it wil operates a speciales company that sels Laser pointers over the Internet. Thornton expects sales in January year to total $300.000 and to increase 10 percent per month in February and March All sales are on account. Thomton expects to collect 66 percent of accounts receivable in the more 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 test quarter of year 1 b. Determine the amount of sales revenue Thornton will report on the year first quarterly pto forma income statement c. Prepare a cash recepts schedule for the first quarter of yeart d. Determine the amount of accounts receivable as of March 3t year . P Complete this question by entering your answers in the tabs below. o There hequred Moped oured Required Determine the amount of sales revenue Thomton will report on the year first quarterly proforma Income woment w (HA ME Chapter 7 HW Problems/Exercises Hely Sever Check my 4. 1666 Bols Thornton Pointers Corporation expects to begin operations on January 1 yeart It will operate as a socialty sales company that sels laser pointers over the Internet. Thornton expects sales in January year to total $300,000 and to increase 10 percent per month in February and March. All sales are on account. Thomton expects to collect 68 percent of accounts receivable in the month of 22 percent in the month following the sale, and 10 percent in the second month following me sale Required a. Prepare a sales budget for the first quarter of year 1 b. Determine the amount of sales revenue Thornton will report on the year 1 hest quarterly pro forma Income statement Me Help Seveda 1666 Thornton Pointers Corporation expects to begin operations on my year it will operates a speciales comory that sels laser pointers over the Internet Thornton expects sales in January year to to 5300.000 and to custo percent per month February and March All sales are on account. Thornton expects to collect 6 percent of accounts receive in the more of we, 2 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 yoat 1 6. Determine the amount of sales tevenue Thornton will report on the year 1 first quartody pro forma income statement c. Prepare a cash receipts schedule for the first quarter of year d. Determine the amount of accounts receivable as of March at you Complete this question by entering your answers in the tabs below. Required A Reed Roured care Determine the amount of accounts receivable as of March 31, y 1. Door final antes to the nearest who dar) Red