Thornton Pointers Corporation expects to begin operations on January 1 year tit wil operate as a specialty sales company that sells laser pointers over the Internet. Thornton expects sales in January year 1to total $330,000 and to increase 10 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, 23 percent in the month following the sale, and 9 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. Complete this question by entering your answers in the tabs below. Required A Required B Required Required Prepare a sales budget for the first quarter of year Sales Budget January February Sales on account March Required > 80 F3 888 FA F2 FS F7 % &