What is the amount of sales revenue that the company will report on the second quarter pro form income statement? $1, 335,000 $1, 129, 800 $1, 207,000 $1,001, 800 Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales each of the first three months of operations are as follows: Bright Minds expects to collect 70% of the sales on account in the month of sale, and 20% in the month following the sale, and the remainder in the second month following the sale. What is the ending accounts receivable balance that would be reported on the second quarter pro forma balance sheet? $164, 700 $121, 500 $283, 500 $86, 400 Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations areas follows: Bright Minds expects to collect 70% of the sales on account in the month of sale and 20% in the month following the sale, and the remainder in the second months following the sale. What is the amount of budgeted cash collections for June? $406, 900 $461, 900 $460,000 $424, 900