Required D

Baird Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a specialty sales company that sells laser pointers over the Internet. Baird expects sales in January 2019 to total $320,000 and to increase 15 percent per month in February and March. All sales are on account. Baird expects to collect 69 percent of accounts receivable in the month of sale, 22 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 2019. b. Determine the amount of sales revenue Baird will report on the first 2019 quarterly pro forma income statement. c. Prepare a cash receipts schedule for the first quarter of 2019. d. Determine the amount of accounts receivable as of March 31, 2019. X Answer is complete but not entirely correct. 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, 2019. (Do not round intermediate calculation: Accounts receivable $ 177,008 X Baird Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a specialty sales company that sells laser pointers over the Internet. Baird expects sales in January 2019 to total $320,000 and to increase 15 percent per month in February and March. All sales are on account. Baird expects to collect 69 percent of accounts receivable in the month of sale, 22 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 2019. b. Determine the amount of sales revenue Baird will report on the first 2019 quarterly pro forma income statement. c. Prepare a cash receipts schedule for the first quarter of 2019. d. Determine the amount of accounts receivable as of March 31, 2019. X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare a cash receipts schedule for the first quarter of 2019. (Do not round intermediate calculations.) January February March $ 220,800 70,400 $ 28,800 Schedule of Cash Receipts Receipts from January sales Receipts from February sales Receipts from March sales Total 0 253,920 80,960 0 0 292,008 $ 220,800 324,320 $ 401,768