The Game Zone sells computer and other electronic games. The store has budgeted sales for January Year 2 as indicated in the following table. The company expects a 4% increase in sales for the month of February and a 3% increase for March.
$\begin{array}{lccc}
\text { Sales}&\text { January}&\text { February}&\text { March }\
\text { Cash sales } & \$ 40,000 & ?&? \
\text { Sales on account } & \underline{\$ 80,000} & ?&? \
\text { Total budgeted sales } &\underline{ \$ 120,000} & ?&?
\end{array}$ Required:Complete the sales budget by filling in the missing amounts.What is the amount of sales revenue the company will report on its pro forma income statement for the first quarter?

Question

The Game Zone sells computer and other electronic games. The store has budgeted sales for January Year 2 as indicated in the following table. The company expects a 4% increase in sales for the month of February and a 3% increase for March.
 $\begin{array}{lccc}
\text { Sales}&\text {  January}&\text {  February}&\text {  March }\
\text { Cash sales } & \$ 40,000 & ?&? \
\text { Sales on account } & \underline{\$ 80,000} & ?&? \
\text { Total budgeted sales } &\underline{ \$ 120,000} & ?&?
\end{array}$  Required:Complete the sales budget by filling in the missing amounts.What is the amount of sales revenue the company will report on its pro forma income statement for the first quarter?

Quizplus · Accepted Answer

The Answer of The Game Zone sells computer and other electronic games. The store has budgeted sales for January Year 2 as indicated in the following table. The company expects a 4% increase in sales for the month of February and a 3% increase for March.
 $\begin{array}{lccc}
\text { Sales}&\text {  January}&\text {  February}&\text {  March }\
\text { Cash sales } & \$ 40,000 & ?&? \
\text { Sales on account } & \underline{\$ 80,000} & ?&? \
\text { Total budgeted sales } &\underline{ \$ 120,000} & ?&?
\end{array}$  Required:Complete the sales budget by filling in the missing amounts.What is the amount of sales revenue the company will report on its pro forma income statement for the first quarter?

The Game Zone Sells Computer and Other Electronic Games Required:Complete the Sales Budget by Filling in the Missing Amounts