Question: Please answer for Required A-D. Thank you Problem 14-17A (Algo) Preparing a sales budget and schedule of cash receipts LO 14-2 Thornton Pointers Corporation expects

Please answer for Required A-D. Thank you

a sales budget and schedule of cash receipts LO 14-2 Thornton 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

Problem 14-17A (Algo) Preparing a sales budget and schedule of cash receipts LO 14-2 Thornton 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. Thornton expects sales in January Year 1 to total $290,000 and to increase 15 percent per month in. February and March. All sales are on account. Thornton expects to collect 69 percent of accounts receivable in the month of sale. 25 percent in the month following the sale, and 6 percent in the second month following the sale. Required a. Prepare a saies budget for the first quarter of Year 1 . b. Determine the amount of sales revenue Thornton will report on the Year 1 first quartedy 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 soles budget for the first quarter of year 1 . a. Prepare a sales budget for the first quarter of Year 1 . b. Determine the amount of sales revenue Thornton 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 cash receipts schedule for the first quarter of year 1. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) a. Prepare a sales budget for the first quarter of Year 1 . b. Determine the amount of sales revenue Thornton 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. 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.)

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