Question: Perez Pointers Corporation expects to begin operations on January 1, Year 1; it will operate as a specialty sales company that selis laser pointers over

1; it will operate as a specialty sales company that selis laser

pointers over the Internet. Perez expects sales in January Year 1 to

total $280,000 and to increase 15 percent per month in February and

March. All sales are on account. Perez expects to collect 67 percent

Perez Pointers Corporation expects to begin operations on January 1, Year 1; it will operate as a specialty sales company that selis laser pointers over the Internet. Perez expects sales in January Year 1 to total $280,000 and to increase 15 percent per month in February and March. All sales are on account. Perez expects to collect 67 percent of accounts receivable in the month of sale, 24 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 Perez 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. Prepare a sales budget for the first quarter of year 1 . Complete this question by entering your answers i Determine the amount of sales revenue Perez will report Prepare a cash receipts schedule for the first quarter of year 1. (Do not round intermec answers to the nearest whole dollar.) Complete this question by entering your answers in the Determine the amount of accounts receivable as of March 31,y final answers to the nearest whole dollar.)

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