Final answer:
The amount of sales revenue that the company will report on the second quarter proforma income statement is $1,343,500.
Step-by-step explanation:
To calculate the amount of sales revenue that the company will report on the second quarter proforma income statement, we need to consider the projected cash sales and sales on account for each month.
In April, the cash sales are $115,000 and the sales on account are $455,000. The company expects to collect 70% of the sales on account in the month of sale, which is $318,500. In May, the cash sales are $77,000 and the sales on account are $500,000. The company expects to collect 70% of the sales on account in the month of sale, which is $350,000. In June, the cash sales are $140,000 and the sales on account are $490,000. The company expects to collect 70% of the sales on account in the month of sale, which is $343,000.
Therefore, the total amount of sales revenue that the company will report on the second quarter proforma income statement is $115,000 + $318,500 + $77,000 + $350,000 + $140,000 + $343,000 = $1,343,500.