Jons game store sells computer and other electronic games., Ask an Expert

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problem: Jon's Game Store sells computer and other electronic games. The store has budgeted sales for January 2008 as indicated in the given table. The company expects an 8% increase in sales for the month of February and a 5% increase for March.

Sales	January	February	March
Cash sales	$20,000	?	?
Sales on account	40,000	?	?
Total budgeted sales	$60,000	?	?

Required:

[A] find out the sales budget by filling in the missing amounts.
[B] find out the amount of sales revenue the company will report on its pro forma income statement for the 1st quarter?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M921792

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