2 The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sates 11,800 12,800 14,800 13,800 10 point The selling price of the company's product is $17 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable all of which is expected to be collected in the first quarter, is $71800 The company expects to start the first quarter with 1770 units in finished goods inventory Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 1970 units Required: 1. Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 2. Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 3. Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole his Teater ahaan 24 3: Next