12. Grandma's Tassels is a manufacturer of decorative tassels for use in commencement ceremonies throughout the world. Yvonne Yancy-Smith is the President and CEO of Grandma's Tassels, and she is working with the accounting group to put together its maste budget for the year using the following assumptions: a. Tassels are sold for $25 per tassel. b. Grandma's Tassels collects 40% of credit sales in the month of sale and 58% in the month following sale. 2% of sales are not collected. All sales are on credit. c. December sales were $600,000. a. Complete the following sales budget and schedule of expected cash collections for the first quarter for Grandma's Tassels: Grandma's Tassels Sales Budget January February March Quarter Budgeted Unit Sales 5,000 3,000 10,000 18,000 Price per Unit Total Sales Schedule of Expected Cash Collections January February March December Sales January Sales February Sales March Sales Total Cash Collections 13 Quarter