10 3 points eBook Print References Problem 14-17A (Algo) Preparing a sales budget and schedule of cash receipts LO 14-2 Walton Pointers Corporation expects to begin operations on January 1, Year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Walton expects sales in January Year 1 to total $200,000 and to increase 15 percent per month in February and March. All sales are on account. Walton expects to collect 67 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 13 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 Walton 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 receivable as of March 31, Year 1. 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, year 1. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) Accounts receivable Check my work

Problem 14-17A (Algo) Preparing a sales budget and schedule of cash receipts LO 14-2 Wohton Pointecs Corporation expects to begin operations on January 1 , Year 1 it will operate as a spocialty sales company that sells laser pointers over the internet. Walton expects sales in January Year 1 to total $200,000 and to increase 15 percent per month in February and March. Alt sales are on account. Walton expects to collect 67 petcent of accounts receivable in the month of sale, 20 percent in the month following the salo, and 13 percent in the second month following the sale. Required a. Prepare a sales budget for the first quarter of Year 1 b. Determine the arsount of soles revenue Walton will report on the Vear 1 first quarterly pro forma income statement. c. Prepare a cash receipts schedule for the first quarter of Yoar 1 d. Determine the amount of accounts receivable as of March 31 , Year 1. Cemplete this question by entering your answers in the tabs below. Determine the ampunt of accounts recelvable as of Harch 31, year 1 . (Oo not round intermediate calculations. Raund your final aniwen to the nearest whole dstar