THE LAST ANSWER TO THIS IS INCORRECT Walton 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. Walton expects sales in January year $1$ to total $$350,000$ and to increase $15$ percent per morith in February and March. All sales are on account. Walton expects to collect $67$ percent of accounts receivable in the month of sale, $20$ percent in the month following the sale, and $13$ 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 Walton 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 $1.$

Answer is complete but not entirely correct.

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.$)$

$\backslash$table$[[$Schedule of Cash Receipts,January,February,March$],[$Receipts from January sales,$$247,900ox,81,400,40,700$