rooney pointers corporation expects to begin operations on January 1 year one it will operate as a specialty sales company that sells laser pointers over the Internet. Rooney expects sales in January year one to total $250,000 into increased 15% per month in February and March all sales are on account Rooney expects to collect 68% of accounts receivable in the month of sale 24% in the month following the sale, and 8% in the second month following the sale.

TULUS.com/ex/map/index.html?con=con&external browser0&launchUrlhttp%253A%252F%252Fms.mheducation.com%252Fmghmiddleware%252Fmheproducts Chapter 7 Saved Hel Rooney 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. Rooney expects sales in January year 1 to total $250,000 and to increase 15 percent per month in February and March. All sales are on account. Rooney expects to collect 68 percent of accounts receivable in the month of sale, 24 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 Rooney 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. OK nt ences Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Prepare a sales budget for the first quarter of year 1. Sales Budget Salos on account February March January $ 250,000 Required Required B > ere to search O II TULUS.com/ex/map/index.html?con=con&external browser0&launchUrlhttp%253A%252F%252Fms.mheducation.com%252Fmghmiddleware%252Fmheproducts Chapter 7 Saved Hel Rooney 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. Rooney expects sales in January year 1 to total $250,000 and to increase 15 percent per month in February and March. All sales are on account. Rooney expects to collect 68 percent of accounts receivable in the month of sale, 24 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 Rooney 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. OK nt ences Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Prepare a sales budget for the first quarter of year 1. Sales Budget Salos on account February March January $ 250,000 Required Required B > ere to search O