[JUFRAN6421]

McCarty Pointers Inc expects to begin operations on January 1, 2012 it will operate as a specialty sales company that sells laser pointers on the Internet. McCarty expects sales in January 2012 to total 200,000$ and to increase 10 percent per month in February and March. All sales are on account. McCarty expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month following the sale. Prepare a sales budget for the first quarter of 2012? Determine the amount of sales revenue McCarty will report on the first 2012 quarterly pro forma income statement. Prepare a cash receipts schedule for the first quarter 2012? Determine the amount of accounts receivable as of March 31, 2012?

[paraclete]

McCarty Pointers Inc expects to begin operations on January 1, 2012 it will operate as a specialty sales company that sells laser pointers on the Internet. McCarty expects sales in January 2012 to total 200,000$ and to increase 10 percent per month in Febuary and March. All sales are on account. McCarty expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month following the sale. Prepare a sales budget for the first quarter of 2012? Determine the amount of sales revenue McCarty will report on the first 2012 quarterly pro forma income statement. Prepare a cash receipts schedule for the first quarter 2012? Determine the amount of accounts receivable as of March 31, 2012?

read carefully what is said
sales in January 2012 to total 200,000$ and to increase 10 percent per month in February and March
Determine the amount of sales revenue McCarty will report on the first 2012 quarterly pro forma income statement

McCarty expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month following the sale
Prepare a cash receipts schedule for the first quarter 2012?
Determine the amount of accounts receivable as of March 31, 2012

so a matter of simple mathematics

200000*1.1 = February * 1.1 = March
January + February + March =

200000*.7 = January 200000* .2 =February 200000 *.1 = March

and so on

[skinnymrsl]

Once you add Jan, Feb, and March together which is 262,00 how would you set the next step up? Could you please help?

[skinnymrsl]

[QUOTE=paraclete;3168261]read carefully what is said
sales in January 2012 to total 200,000$ and to increase 10 percent per month in February and March
Determine the amount of sales revenue McCarty will report on the first 2012 quarterly pro forma income statement

McCarty expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month following the sale
Prepare a cash receipts schedule for the first quarter 2012?
Determine the amount of accounts receivable as of March 31, 2012

so a matter of simple mathematics

200000*1.1 = February * 1.1 = March
January + February + March =

200000*.7 = January 200000* .2 =February 200000 *.1 = March

and so on

[skinnymrsl]

Could you please help me set up the figures for this problem?

[skinnymrsl]

could you please help me set up the figures for this problem?

what do I need to do next?

[paraclete]

Read the question?

Prepare a cash receipts schedule for the first quarter 2012?
Determine the amount of accounts receivable as of March 31, 2012?