Zachary Pointers Corporation expects to begin operations on January 1 , year 1 ; it will operate as a speciaity sales company that sells laser pointers over the internet. Zachary expects sales in January year 1 to total $260,000 and to increase 15 percent per month in February and March. All sales are on account. Zachary expects to collect 70 percent of accounts recelvable in the month of sale, 22 percent in the month following the sale, and 8 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 Zachary will report on the year 1 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 recelvable as of March 31, year 1