1.Welch Company, which expects to start operations on 1-1-2011,

1.Welch Company, which expects to start operations on 1-1-2011, will sell digital cameras in shopping malls. Welch has budgeted sales as indicated in the following table. The company expects a 10% 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.
cash sales $40,000 ? ?
sales on account 100,000 ? ?
total budgeted sales $140,000 ? ?
A. Complete the sales budgeting by filling in the missing amounts.
B. Determine the amount of sales revenue Welch will report on its first quarter pro forma income statement

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