Sutton Pointers Corporation expects to begin operations on January $1,2015$; it will

operate as a specialty sales company that sells laser pointers over the Internet Sutton

expects sales in January $2015$ to total $$400,000$ and to increase $20$ percent per month

in February and March. All sales are on account. Sutton expects to collect $70$ percent of

accounts receivable in the month of sale, $23$ percent in the month following the sale, and

$7$ percent in the second month following the sale.

Required

a$.$ Prepare a sales budget for the first quarter of $2015.$

b$.$ Determine the amount of sales revenue Sutton will report on the first $2015$ quarterly

pro forma income statement.

Sales revenue

c$.$ Prepare a cash receipts schedule for the first quarter of $2015.($Do not round

intermediate calculations. Round your answers to the nearest whole dollar

amount.$)$

d$.$ Determine the amount of accounts receivable as of March $31,2015.($Do not round

intermediate calculations. Round your answers to the nearest whole dollar

amount.$)$