Perez Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Perez has budgetedsales as indicated in the following table. The company expects a 12 percent increase in sales per month for February and March. Theratio of cash sales to sales on account will remain stable from January through March.Requireda. Complete the sales budget by filling in the missing amounts.b. Determine the amount of sales revenue Perez will report on its first quarter pro forma income statement.Complete this question by entering your answers in the tabs below.Required ARequired BComplete the sales budget by filling in the missing amounts. (Round intermediate calculations and final answers to 2 decimalplaces.)SalesJanuaryFebruaryMarch$ 46,000116,000Cash salesSales on accountTotal budgeted sales$ 162,000< Required ARequired B >

Given: Cash Sales for January $46000 Credit sales for January $116000 12% in sales per month for…

Answered: Perez Company, which expects to start…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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