ter Fourteen Graded Homework Problem 14-17 Preparing a sales budget and schedule of cash receipts LO 14-2 Spalding 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. Spalding expects sales in January 2019 to total $120,000 and to increase 5 percent per month in February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month of sale, 20 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 2019 b. Determine the amount of sales revenue Spalding 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 Print 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 January February March Sales on account Required ) Prey 1 of 4 !!! Next > Problem 14-17 Preparing a sales budget and schedule of cash receipts LO 142 Spalding Pointers Corporation expects to begin operations on January 2019. it was operate as a speciality company that laser pointers over the Internet. Spalding expects sales in January 2019 to total $120.000 and to increase 5 percent per month February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month of percent in the month following the sale, and 10 percent in the second month following the sale 20 Required a. Prepare a sales budget for the first quarter of 2019, b. Determine the amount of sales revenue Spalding 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 Print References Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Determine the amount of sales revenue Spalding will report on the first 2019 quarterly pro forma income statement Sales revenue Search Results 1 PetSmart Amazon.com Shopping Cart Chapter Fourteen Graded Homework Saved Hell Problem 14-17 Preparing a sales budget and schedule of cash receipts LO 14-2 2.25 Boints Spalding 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. Spalding expects sales in January 2019 to total $120,000 and to increase 5 percent per month in February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month of sale, 20 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 2019 b. Determine the amount of sales revenue Spalding 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 Print References Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Determine the amount of accounts receivable as of March 31, 2019. Accounts receivable Required
