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

question 29

Essay

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?

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