Hoop Action manufactures basketballs, which it sells for \(\$ 50\) each. Cash collections from sales O : are expected to be \(80 \%\) in the quarter of the sale and \(20 \%\) in the following quarter. The uncollected portion of sales at January 1 was \(\$ 40,000\). The sales forecast for the next year is:

Create a sales budget and a schedule of cash collections.

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Expected Sales in Units Quarter 1 2,000 Quarter 2 3,000 Quarter 3 5,000 Quarter 4 5,000