Find the item that is not a component of net sales.

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Chapter 6, Problem 10MCQ

To determine

Find the item that is not a component of net sales.

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Jordan Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Jordan has budgeted sales as indicated in the following table. The company expects a 15 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required A) Complete the sales budget by filling in the missing amounts. B) Determine the amount of sales revenue Jordan will report on its first quarter pro forma income statement. Sales January February March Cash Sales $48,000 Sales on Account $110,000 Total Budgeted Sales $158,000 Note: Do not round intermediate calculations. Round final answers to two decimal places.

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