$8-1$A $-$ Sales Budget and Schedule of Expected Cash Collections

Baker Company shows the following estimates for unit sales for $2017$:

The company expects to sell its goods for $$50$ per unit.

Required:

a$.)$ Prepare a sales budget for the year.

Additional information

The company expects to collect $70\%$ of sales in the quarter of the sale, and $25\%$ in the quarter

following the sale. $5\%$ of sales are expected to be uncollectible. The company's beginning

accounts receivable was $$125,000,$ all of which was expected to be collected in the first quarter.

Required:

b$.)$ Prepare a schedule of expected cash collections for the year.