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Walton Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Walton has budgeted sales as indicated in
Walton Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Walton has budgeted sales as indicated in the following table. The company expects a 12 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Walton will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below. Required ARequired B Complete the sales budget by filling in the missing amounts. (Round intermediate calculations and final answers to 2 decimal places.) Sales Cash sales Sales on account Total budgeted sales 153,000 January February March $ 38,000 115,000 Required A Required B Required A Required B Determine the amount of sales revenue Walton will report on its first quarter pro forma income statement. (Round intermediate calculations and final answer to 2 decimal places.) Sales revenue Required A Required B
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