Activity 1 XYZ Ltd. Plans for the production of bottles in the year ending December 2020. Based on previous years' experience, the following assumptions were made available for the preparation of Sales Budget. 1 Quarter 2nd Quarter 3rd Quarte 4th Quarter Total Sales in units 5,000 6.000 7,000 8,000 Selling Price 1300 P300 P350 P350 Also, the sales discount and allowance percentage will be 2 % of gross sales for all the quarters. Required: Prepare the sales budget of the company for the year ending in 2020