Thornton 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. Thornton expects sales in January 2019 to total $350,000 and to increase 20 percent per month in February and March. All sales are on account. Thornton expects to collect 67 percent of accounts receivable in the month of sale, 23 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 Thornton will report on the first 2019 quarterly pro forma income statement. c. Prepare a cash receipts schedule for the first quarter of 2019. 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 $ 350,000 February $ 420,000 March $ 504,000 LLLLLLLLLL Thornton 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. Thornton expects sales in January 2019 to total $350,000 and to increase 20 percent per month in February and March. All sales are on account. Thornton expects to collect 67 percent of accounts receivable in the month of sale, 23 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 Thornton 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 Determine the amount of accounts receivable as of March 31, 2019. (Do not round intermediate calculations. Round final answers to whole dollars.) Accounts receivable