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Saved Gibson Pointers Corporation expects to begin operations on January 1, 2019; it will operate...

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Saved Gibson 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. Gibson expects sales in January 2019 to total $240,000 and to increase 15 percent per month in February and March. All sales are on account. Gibson expects to collect 70 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 8 percent in the second month following the sale. Required 120.00 a. Prepare a sales budget for the first quarter of 2019. b. Determine the amount of sales revenue Gibson 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. Complete this question by entering your answers in the tabs below. Required B Required A Required C Required D Prepare a sales budget for the first quarter of 2019. Sales Budget January February March Sales on account

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